‘I Was Called In and Told My Job Was Gone’

The Dhaka Stock Exchange (DSE) has terminated four deputy general managers (DGMs) as part of what it described as a workforce restructuring initiative.

The dismissed officials are Md. Abdul Latif and Hosne Ara Parveen of the General Administration Division, Shahin Sarwar of the ICT Division, and Abdur Razzak, coordinator of the Investor Protection Fund. The DSE has also terminated two senior managers and two other employees.

According to a termination letter received by one of the dismissed DGMs, the decision was made with immediate effect as part of a manpower restructuring process. The letter stated that the position was no longer required under the organization's current operational needs.

The letter said the employee would receive all benefits due under the final settlement package. It also offered an additional payment equivalent to two months' gross salary as a gesture of goodwill.

The notice further instructed the employee to return all DSE property, including identification cards, documents and business cards, and to hand over any confidential information to the relevant department on the day of termination.

It also stated that confidentiality obligations would remain in effect even after the employment relationship ended.

One of the dismissed officials said he was summoned to a meeting and informed of his dismissal without prior notice.

“They called me in, handed me a letter and said, ‘You no longer have a job.’ There has never been an example in DSE's history of employees being dismissed this way,” he said.

Another dismissed official, Md. Abdul Latif, told Agamir Somoy that the letter did not specify any reason for his termination.

“When I joined the DSE, I held the second-highest position in the organization. After working here for so many years, if this is the feedback I receive, then there is nothing more to say,” he said.

The sudden dismissal of four senior officials has created uncertainty and concern within the organization. While DSE management has described the move as part of a restructuring effort, the abrupt nature of the decision has raised questions among employees.

Sources said the current round of dismissals may not be the last. Additional officials could be terminated in phases, fueling anxiety and fear among staff members about potential job losses.

Senior DSE officials said the decision was not intended to punish any individual. Rather, they described it as part of a long-term resource optimization strategy aimed at making the organization more efficient and effective.

According to them, the restructuring process is intended to transform the DSE into a more modern and streamlined institution.

Attempts to contact DSE Chairman Mominul Islam for comment were unsuccessful because he did not answer phone calls.