The Zimbabwe Banks and Allied Workers Union (ZIBAWU), which represents bank workers, has accused Standard Chartered Bank Zimbabwe (StanChart) of treating its employees unfairly during its transfer to FBC Bank.
In a letter addressed to the Chief Executive Officer of Standard Chartered Bank South Africa and Southern Africa, Kweku Bedu-Addo, ZIBAWU expressed concern over the bank’s lack of transparency regarding the transfer process and its treatment of workers’ rights.
“We are deeply concerned by the manner in which you are keeping workers in the dark with regards to the transfer to FBC Bank,” reads the letter from ZIBAWU.
“Workers have many issues which local management is either ignoring or not empowered to address.”
The Union highlighted several areas of concern, including a broken promise by the bank to pay off workers’ leave days before the migration to FBC Bank.
ZIBAWU alleges that management has reneged on this agreement without consulting with the workers and that their attempts to get clarification have been ignored.
“There is no doubt that such arrogance and unethical treatment of workers does not accord with the values of your brand,” the Union wrote. “A ‘Bank with a soul’ does not treat its workers in such a manner.”
The Union further criticised the bank’s lack of communication regarding gratuity payments to employees. They allege that the bank has been evasive on the details of the gratuity plan, leaving workers unsure about the amount they will receive and when.
“The Bank also promised to pay some gratuity to the workers,” reads the ZIBAWU letter.
“Instead of this matter being openly discussed in the Works Council, management has been evasive. As a result, workers are again kept in the dark. No one knows how much will be paid, when and how.”
ZIBAWU also accused StanChart of neglecting its former employees, particularly pensioners. They expressed concern that the bank has not communicated a plan to mitigate the effects of the sale on the pension fund.
“It also appears to us from many enquiries we are receiving that the Bank has not adequately communicated with its former employees.
“Most of those on pension and those awaiting their pensionable age are also in the dark about their future,” the Union wrote.
The Union contrasted Standard Chartered Bank’s approach with that of Barclays Bank, which recently exited the Zimbabwean market.
According to ZIBAWU, Barclays Bank prioritised employee welfare by consulting with the Union and workers’ committee on a gratuity package, employee share ownership scheme, and contributions to the pension fund.
“For Standard Chartered Bank the Union is in complete darkness reminding us of the ugly master and servant industrial relations of the dark colonial past,” reads the letter.
ZIBAWU expressed concern that the bank is taking advantage of Zimbabwe’s “shrinking democratic space” to violate workers’ rights. They urged the bank’s CEO to intervene and ensure fair treatment for all stakeholders involved in the transfer.
The Union’s claims come amidst a period of uncertainty for Standard Chartered Bank Zimbabwe employees. With the transfer to FBC Bank looming, ZIBAWU is seeking to protect the rights and interests of its members.
Standard Chartered Bank Zimbabwe has not yet responded to the letter.
