Zimbabwe Bank Workers to Protest Over Job Cuts By Stanchart

Bank workers in Zimbabwe are planning a solidarity protest march as Standard Chartered Bank over job cuts.

As stated by the Zimbabwe Banks and Allied Workers Union (ZIBAWU) in a letter sent for members across the country inviting them to take part in the demonstration set for next week, they blamed the crisis on the failure of the nation’s Central Bank to curtail the continual job loss.

“Comrades, ZIBAWU has resolved to demonstrate against Standard Chartered Bank’s perennial retrenchments.

“We have noted that the jobs of those retrenched employees are still required in the bank but have been exported and are now being done by people in Kenya and India on behalf of Stanchart Zimbabwe’s Clients,” the document says.

The bank workers’ group noted that operational services like ATM Card production and Call Centers were now based in Kenya.

The union expressed disappointment over the role of the Reserve Bank of Zimbabwe which it accuses of granting StanChart the go-ahead to cut jobs.

“The RBZ has been approving such retrenchments to our amazement. Workers are being consumed through an approved neo-liberal business model,” said ZIBAWU.

The union also accused the bank of failing to pay better packages despite making very huge profits averaging around $13 million annually.

The workers said that while it accepted job cuts and retrenchments in certain circumstances, they were worried that retrenchments have become the order of the day.

“In 2016, the bank paid two weeks’ salary for every year served even though it was making such huge profits.

“As if the 2016 retrenchment was not enough, the bank successfully embarked on such inhumane retrenchment exercises in 2017 and 2018 respectively.

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