A Bangladesh Bank report alleges BRAC Bank PLC wrongfully dismissed over 2,500 employees in the past three years, many under duress. The inspection, conducted on February 25, 2024, identified bias, misuse of authority, and arbitrary actions in the termination process. Of the 2,553 exits, 2,418 were categorized as voluntary resignations, though many were reportedly coerced. The report criticized inconsistencies in performance appraisals, unauthorized terminations, and varied evaluation methods across divisions. Additionally, the bank was found non-compliant with regulations regarding employee tenure in departments. BRAC Bank’s communication head refuted these claims, citing only 460 terminations due to performance and disciplinary issues. The report recommended revisiting the terminations and addressing management’s arbitrary practices, but BRAC Bank has not yet acted on these directives.
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