AB Bank has asked more than 100 of its employees to resign as part of its efforts to restructure operations.
The management of the first-generation bank said unqualified and corrupt officials had been asked to leave.
Two officials, who are set to lose jobs, said the majority of the officials who were facing the downsizing were now at the last stretch of their careers.
So, the job-cut has dealt a big blow to them as they don't know how to get on in the days ahead and there is little scope to manage a new job due to the ongoing economic fallout, they said.
A large number of employees were asked to resign by yesterday and a termination letter of the employees has been obtained by The Daily Star.
"The management has asked 70-80 employees to resign due to their incapacity to do the job keeping up with the time," said Tarique Afzal, managing director of AB Bank.
The job-cut is a regular process and it has no relation with the bank's austerity measures, he said.
The employees who have been found to be involved in corruption were also asked to go, he said.
The bank had earlier faced a number of crises, including scams and fraudulent activities but it has recently turned around from the loss-making situation, Afzal said, adding that the latest effort would help the bank's operations shine out.
The employees facing the termination will get their service benefit from the lender.