80 AB Bank employees lose job amid COVID-19 situation

Staff Correspondent | Published at 01:13am on July 12, 2020

At least 80 employees of AB Bank have been either terminated or forced to resign during the ongoing COVID-19 situation.

Officials of the banks, however, said that about 120 employees were terminated.

The termination letter issued to an employee said, ‘the management of the bank has decided to terminate your employment from the service of the bank with effect from July 12, 2020.’

It said, ‘Please note that on termination you will be paid all dues as per AB Bank Staff Service Rules.’

It also promises the employee to clear three months’ basic salary as termination benefit.

The termination of AB Bank employees has come at a time when five banks have reduced salary of their staff with a view to reduce operating cost in the wake of COVID-19.

Due to the outbreak of COVID-19 and subsequent imposition of shutdown across the country for about two months, business and economic activities have come almost to a halt, resulting in fall in profitability of most of the banks.

Bangladesh Association of Banks on June 14 suggested its member banks to reduce employees’ salary by up to 15 per cent.

‘The number of employees lost jobs since January this year would be about 80 because of their poor performance,’  AB Bank president and managing director Tarique Afzal told New Age.

‘Almost all of them have resigned and a couple of them have been terminated,’ he added.

‘If the efficient manpower is not ensured the bank would collapse as it suffered badly in the past two years,’ he said, adding that there was no scope other than taking the move to protect public money.

Speaking about the move take during the pandemic, the managing director said, ‘None would tolerate if the bank fail to pay depositors’ money even in a pandemic situation.’

AB Bank has about 2,300 employees.