Written by The Banking Post
The Dhaka Stock Exchange (DSE) has said the recent termination of 17 employees was part of a long-term organisational restructuring programme, rejecting suggestions that the move was abrupt or punitive.
In a statement issued on Sunday, the bourse said the decision was taken under a transformation process that has been underway since 2022 to improve efficiency, adapt to technological changes and meet strategic business needs.
The DSE said the affected employees accounted for less than 5 per cent of its total workforce of around 350.
It described recruitment and termination as standard management practices in private organisations, carried out in line with business requirements and labour laws.
According to the exchange, the layoffs were conducted under Section 26 of the Bangladesh Labour Act, 2006, and its service rules, which allow termination without assigning a reason, subject to notice or payment in lieu of notice.
While the law requires compensation equivalent to four months’ salary, the DSE said it paid an additional two months’ salary on humanitarian grounds. As a result, each affected employee received compensation equal to six months’ salary.
The exchange added that the employees would also receive all statutory benefits, including provident fund, gratuity, leave encashment and other final settlement dues. It said the affected staff had been contacted several times to collect their payments.
The DSE said the process was handled with professionalism and respect, and that all departing employees would receive experience certificates along with any necessary administrative support.
Referring to public comments on the layoffs, the exchange urged stakeholders to verify facts before making statements that could harm an institution or individuals.
Reaffirming its commitment to good governance, transparency and accountability, the DSE said it would continue to operate as a responsible institution while pursuing its long-term transformation goals.
