Dhaka, July 13 -- In letters sent to the employees last Wednesday, Bangladesh's first private sector bank said their termination would be effective from Sunday.

Chairman Muhammad A (Rumee) Ali asked bdnews24.com to contact Managing Director Tarique Afzal when it reached Ali for comments. Afzal did not respond to requests for comments.

The bank said in the letters that it will pay the sacked employees dues and salaries of three months.

The decision aims at "the bank's survival in the future as it cannot bear extra expenses", it said.

The officials will bear responsibilities if they take legal action against the decision, it warned.

Officials said 121 of them received the letters of termination.

Several of the those officials have ven...