Recent bank acquisitions won't trigger staff layoffs, says association

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Home Business Recent bank acquisitions won't trigger staff layoffs, says association 20-02-2022 04:29 PM Ammon News - No staff member of banks recently merged with or acquired by other banks will be laid off, said Director of the Association of Banks in Jordan (ABJ) Maher Mahrouq on Sunday, a few days after Jordan's Capital Bank and Arab Jordan Investment Bank (AJIB) acquired Societe Generale Bank Jordan and the National Bank of Kuwait (NBK-Jordan), respectively. In a statement to Petra, Mahrouq cited AJIB's 2014 acquisition of HSBC and Capital Bank's takeover of Lebanese lender Bank Audi’s businesses in Iraq and Jordan in 2020 as examples of deals that did not force the dismissal of employees of any of the acquired banks. He said: "the acquiring bank will preserve all the rights and privileges that employees have enjoyed during their employment with the acquired bank, in a way that guarantees them job continuity and security."

Home Business

Recent bank acquisitions won't trigger staff layoffs, says association

20-02-2022 04:29 PM

Ammon News - No staff member of banks recently merged with or acquired by other banks will be laid off, said Director of the Association of Banks in Jordan (ABJ) Maher Mahrouq on Sunday, a few days after Jordan's Capital Bank and Arab Jordan Investment Bank (AJIB) acquired Societe Generale Bank Jordan and the National Bank of Kuwait (NBK-Jordan), respectively.

In a statement to Petra, Mahrouq cited AJIB's 2014 acquisition of HSBC and Capital Bank's takeover of Lebanese lender Bank Audi’s businesses in Iraq and Jordan in 2020 as examples of deals that did not force the dismissal of employees of any of the acquired banks.

He said: "the acquiring bank will preserve all the rights and privileges that employees have enjoyed during their employment with the acquired bank, in a way that guarantees them job continuity and security."

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