The Dhaka Stock Exchange (DSE) has issued an official explanation regarding the termination of 17 employees, stating that the decision was neither sudden nor punitive, but part of a long-term organizational transformation process.
In a statement signed by Deputy General Manager Md. Shafiqul Rahman and released on Sunday (August 2), the DSE said the move was taken in accordance with legal provisions and institutional policies.
The statement noted that, like many organizations worldwide, workforce rationalization based on necessity is a recognized and lawful management practice. Factors such as business realities, organizational restructuring, efficiency improvement, technological changes, and future strategic needs often drive such decisions.
As part of its ongoing efforts to become more dynamic, modern, and future-ready, the DSE has been implementing a long-term organizational transformation program since 2022. Under this initiative, certain positions were restructured, leading to the termination of a limited number of employees.
According to the DSE, the exchange currently employs around 350 staff members, and the termination of 17 employees accounts for less than 5 percent of its total workforce. The authority emphasized that no personal bias or discrimination was involved in the process, which was conducted solely based on institutional needs, operational efficiency, and business interests.
The DSE further stated that the terminations were carried out in compliance with Section 26 of the Bangladesh Labour Act, 2006 and the organization’s service rules. Under the law, employers may terminate employment by providing notice or compensation in lieu of notice.
While the legal provision requires compensation equivalent to four months’ salary, the DSE said it provided an additional two months’ salary on humanitarian grounds. As a result, each affected employee received compensation equal to six months’ salary.
In addition, all final settlements—including provident fund, gratuity, and encashment of unused leave—will be paid in accordance with employees’ length of service. The DSE also assured that the process was completed while maintaining the dignity and respect of the departing employees. Experience certificates and necessary administrative support will also be provided.
The DSE reiterated that it operates on the principles of law, good governance, transparency, accountability, and human values. Wishing success to the outgoing employees in their future careers, the authority affirmed its commitment to continuing as a strong, responsible, and forward-looking institution.
