Saturday, May 21, 2022

Standard Chartered retrenches staff

Standard Chartered Bank employees are planning to take their employer to court as part of their effort to halt the ongoing retrenchment exercise. At least 17 employees are expected to be retrenched end of next month.

Documents passed to the Sunday Standard reveal that about 17 employees will be retrenched by the end of February.

According to the documents, employees have been categorised into grades or scales under which they will be retrenched. Under grade six, at least five employees will be retrenched, under grade seven 11 employees are expected to be axed whilst under grade 10; eight people will lose their jobs. The bank will also retrench 35 employees who are not graded.

The documents reveal that those who will opt for voluntary separation will be given seven days to make up their minds and within the period they would be shortlisted. On 29th of January, those who opted for voluntary separation will be notified and the counselling process is scheduled for the 30th January.

The documents also further reveal that on the 28th February, all 79 employees will be given notice of exit as their last day at work. Secretary General of Botswana Bank Employees Union (BOBEU), Lebogang Keabetswe, said they met with the bank management to discuss several issues surrounding the retrenchment exercise.

She stated that less than 100 people are expected to lose their jobs and some 30 employees are their members. She added that they intend to represent their members in court.

Keabetswe stated that due process will be followed and those who will be affected will be assisted. “I am happy to say that Standard Chartered management is now open regarding the issue as compared to previous meetings where there was a lot of secrecy,” she said.

She stated that both parties have agreed on several issues but exit packages, which is the most critical issue, is yet to be discussed. Keabetswe said though the bank did not propose voluntary separation, the union was able to convince the bank to have such an option.

“I am hopeful that the negotiations will go smoothly and both parties will reach a compromise that will satisfy all parties,” she said. Responding to Sunday Standard queries, Standard Chartered spokesperson, Tumie Ramsden, said, “please be advised that we are unable to provide any information at this point in time, but we will advise once all the necessary stakeholders have been engaged.”


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