121 employees laid off from AB Bank

Privately-owned AB Bank Limited has laid off 121 bank employees simultaneously. On July 8, AB Bank issued dismissal instructions for 121 employees. The directive is effective today (Sunday).

Earlier, AB Bank had started the pruning process from last April. With this, the bank has laid off more than one and a half hundred employees in the last two / three months. Several officials of the bank have confirmed the matter.

According to sources, the bank authorities have decided to lay off workers from Sunday (July 12). In the directive for the retrenched workers, it has been said that the arrears and dues of all the retrenched workers will be paid.

The authorities have decided to pay three months’ salary to all as per the rules of AB Bank. This decision has been taken to sustain the bank in the future. In this situation, the bank can no longer manage the additional costs.

The Business Post tried to reach AB Bank Managing Director Tariq Afzal over his mobile phone more than once for his comment but he did not respond.

Bangladesh Bank Executive Director and spokesman Sirajul Islam said the central bank has instructed the banks to encourage bank employees during coronavirus. So that the employees are motivated with various incentives. As a result, Bangladesh Bank does not support any bank employee's salary reduction, stop increment or retrenchment. It is not right in principle but inhumane too.

Arab Bangladesh Bank started its journey in 1982 as the first private bank in Bangladesh. The name of the bank has been changed to AB Bank after 25 years of its establishment. There are 105 branches across the country and abroad, more than 300 ATM booths and 5 associate companies. At present, the number of officers and employees of AB Bank is about 2,200.