Some depts were made redundant due to rejig: MUFG Bank

By Venkatachari Jagannathan Chennai, Jan 3 : Japan’s MUFG Bank’s centralisation of operations to streamline its business functions has resulted in some roles and departments being made redundant in some of its Indian branches, said a spokesperson.
Responding to IANS questions on the sudden termination of 26 employees (workmen and officers) the bank’s spokesperson said: “For the past few years, MUFG Bank India has undertaken a series of centralisation initiatives in order to streamline our business functions.” The official said the reorganising exercise is part of the bank’s transformation initiatives to align with global peers, enhance client experience, and build a strong and efficient operational platform for a sustainable future.
“As a result, we have had to make some roles and departments redundant in a few of our branches. For all such roles which became redundant, we made adequate compensation arrangements beyond the amounts contemplated in law,” the official said.
Adding further the official said the bank has conducted itself with the utmost professionalism and in full compliance with all the legal and statutory requirements during this difficult period.
“We have treated all our ex-colleagues with empathy and respect throughout this process, including extending comprehensive career transition benefit programmes to each one of them. We are grateful to them for their contributions to the bank, and intend to continue to do our best to support them in their transition,” the official said.