121 Employees Laid Off from AB Bank

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

Earlier, AB Bank began the pruning phrase 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.

Sources say that the Bank's authorities had agreed to lay off workers on Sunday (July 12). It has been mentioned in the Retrained Workers Directive that the arrears and dues of all retrenched employees 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.

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 began its journey as the first private bank in Bangladesh in 1982. After 25 years of its founding, the name of the bank was changed to AB Bank. There are 105 branches throughout the country and overseas, more than 300 ATM booths and 5 associated firms. At present, the number of AB Bank officers and employees is approximately 2,200.