Keystone Bank trims workforce ahead of 2014 restructuring

The job cuts, which are in tune with extant human capital development policy and guidelines, of the bank, was aimed at repositioning the bank to adequately meet the challenges of the new financial year.
A statement signed by the Bank’s spokesman and head of Corporate Communication, Mohammed Ciroma, confirmed this development.
The statment said the exercise was in line with bank’s performance-based appraisal system aimed at rewarding deserving workers whilst identifying and disengaging those whose performances fell below the satisfactory level.
It said the management of the bank, in line with best governance and labour practices held a meeting recently with the executive members of Association of Senior Staff of Banks and 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 was reached.
The statement further stated that Keystone was committed to the ideals of due process and proper separation of service between her employees and the institution.
It 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.