A statement from Unity Bank Plc released on Monday has revealed that about 500 members of its staff will proceed on retirement, in line with a programme aimed at reinvigorating its workforce. The bank also informed that about 389 members of staff in various departments were promoted while salary increments by way of notches were also given to another 1,855 members of its staff.
The statement explained that the move was aimed at raising productivity and competitive position in the industry: “With the implementation of the programme, the bank has announced staff promotions, retirements and will embark on new recruitments to fill vacancies.”
According to the statement, “Of the number proceeding on retirement one each are in the rank of General Manager and Deputy General Manager and an Assistant General Manager while others are of various categories. In carrying out the retirement, the bank worked in co-operation with all the stakeholders including the Association of Senior Staff of Banks, Insurance and Financial Institutions (ASSBIFI) to ensure industrial harmony.”
The bank has however pointed out that the affected workers would be paid their terminal benefits, gratuity, and other entitlements.