IN its bid to reposition and maintain an institution that will remain competitive in the banking industry, the Board of Directors of Mainstreet Bank Limited has decided to embark upon a re-organisation exercise.
According to a statement by Mainstreet Bank, “ After a careful review of the Bank’s budget, and thorough discussion with relevant stakeholders, the Board of Directors has decided that it will be in the best interest of the Bank to embark upon a re-organization of its human and capital resources (“the Re-organization Exercise”).
The aim of the re-organization exercise, according to the bank, is to improve the efficiency of the Bank, promote the growth, stability and competitiveness of the Bank in the industry.
The re-organization exercise will entail the promotion of some of the employees of the Bank and provide an opportunity for some of the employees to elect to voluntarily disengage from the employment of the Bank, based on certain defined criteria. Appropriate payment will be made to those employees who elect to voluntarily disengage.
According to the statement, “The management of the Bank hereby gives its assurance that the re-organization exercise is being carried out in the best interest of the Bank, and all relevant stakeholders including its employees, shareholders and indeed the general public at large.”