By Paul Denlinger

BEIJING, Jun 4 -- The Bank of China, one of China’s leading banks, has fired 20 local bank managers for poor performance. The bank managers were fired for not reaching performance goals, and causing losses for the bank.

News of the firings were made in the newspaper Beijing Youth News, and were made by Bank of China spokesman Wang Zhaowen. Most of the firings took place in northeast China and Guangdong province, which are considered to be areas where Bank of China has performed comparatively poorly and losses are large. The managers were fired, forced to resign or had their positions abolished. In most cases, they had their positions abolished.

Wang said that beginning in June, Bank of China would completely revamp its management and HR policy, and would re-organize its management and staff across 29 provinces into three core competency teams, with each team focused on a particular set of tasks at each bank. Teams which did not meet preset goals would be punished or fired.

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