Podgorica, (MINA-BUSINESS) – President of the Banks’ Trade Union Lidija Pejovic has said that the merger of Crnogorska komercijalna banka (CKB) and Societe Generale banka Montenegro puts the employees of both financial companies in a difficult position, adding that, according to her estimate, 400 workers will lose their jobs.
“According to my estimate, 400 workers and their families will lose their jobs,” Pejovic told Mina-business agency, adding that these workers will have to continue to repay their loans to the banks.
She argues that these workers will be a burden to the state, which will be deprived of the contributions to different funds based on their employment, while being obliged to provide welfare for many of them.
CKB has announced that it signed an acquisition agreement on purchasing a 90.56 percent stake in Societe Generale banka Montenegro for €40.46 million.
Pejovic believes that the merger will also have a negative effect on the wages in the banking sector, which will inevitably go down because of a large supply of the qualified workforce.
According to her, only the future owner will benefit from the merger by making a huge profit that will not remain in Montenegro.
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