CSE offers voluntary retirement to eight executives
The executives were individually communicated by CSE authorities to either accept the offer with additional benefits by the end of this month or face a termination letter
The Chittagong Stock Exchange (CSE) has recently offered voluntary retirement to eight of its executives.
The executives, working with the port-city bourse in capacities ranging from assistant manager to manager, were each informed by management through letters to either accept the offer with additional benefits by the end of this month or face termination, according to a letter seen by The Business Standard.
Employees who have served the CSE for more than 25 years will receive 10 months of gross salary in addition to all regular retirement benefits, while those who served for fewer years will receive an additional amount equal to their 14 months' gross salary, according to CSE sources.
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In the offer letters, the CSE cited the voluntary retirement scheme already approved by its board and mentioned the need to reshuffle human resources to address the ongoing challenges in its evolving business landscape.
M Shaifur Rahman Mazumdar, managing director of the CSE, declined to explain why certain employees were offered a "mutually beneficial" exit.
The bourse has undertaken diversified initiatives in terms of business promotion, technological upgradation, and research and development, he added.
The main goal of the voluntary retirement scheme was to offer some employees a dignified exit with extra benefits.
