GCB Bank to lay-off 500 workers


Earlier reports suggested that management of GCB Bank was considering laying off some 500 workers.

The bank came under severe criticism from workers in 2011 after reports emerged that it intended to lay off about one thousand workers.

The bank as of December 2014 had a workforce of 1,944.

In 2013 its workforce was 2,083.

“The bank has changed over the years we have invested a lot in technology and these basically has been driven by the fact that there is competitive pressure, regulatory pressure, rising operating cost and to sustain our competitive position we have to restructure the bank and if that means we have to reorganize our labour force and if that is what is needed to sustain or keep the bank competitive we will have to do that. Whatever we have to do about the restructuring we will follow due process.”

 Serious question: Why GCB Bank? Doesn't the "B" in GCB stand for Bank? Ghana Commercial Bank Bank..lol