In line with Keystone Bank Limited’s performance-based appraisal system aimed at rewarding deserving workers whilst identifying and disengaging those whose performance falls below the satisfactory level, the lender has laid off some of its workforce – majority of which included senior management staff.
The job cuts, which are in tune with extant Human Capital Development policy and guidelines, are aimed at repositioning the Bank to adequately meet the challenges of the new financial year.
A statement from the Bank’s spokesman and head of Corporate Communication, Mohammed Ciroma, confirmed these developments.
He said the Management of Keystone Bank, in line with best governance and labour practices held a meeting recently with the Executive Members of Association of Senior Staff of Banks & Other Financial Institutions (ASSBIFI), where a consensus, which holistically accommodates all payments accruable to the affected staff in line with the 2012 ASSBIFI Staff Settlement Agreement earlier reached with the Bank, was reached.
Ciroma further stated that Keystone is committed to the ideals of due process and proper separation of service between her employees and the institution.
He added that the Bank remains focused on achieving credible business performance that would enhance the brand value whilst safeguarding the welfare of its employees and safeguarding the investment of shareholders, the banking public and other stakeholders.
