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Terminated employees of Chase Bank IR cry foul

Hi Cyprian,

I hope you can keep our identity anonymous. This is a situation that is causing a lot of frustration, distress, embarrassment, and discomfort because a few individuals in some institutions have no regard for people’s livelihood and well-being.

I worked with a subsidiary of Chase Bank IR for a number of years.

The same subsidiary, which acts as an insurance agency, is also in the process of winding up its operations since it can no longer operate after Chase Bank IR was liquidated sometime last year.

At some point, one or two organizations had expressed interest in taking over the subsidiary but decided otherwise because of one reason or the other, mismanagement being one of them and another being, the leadership was reluctant to share audited financial reports when requested.

Why would one refuse to share their audited financials with an interested party, whether loss/profit-making? Your guess is as good as mine.

Anyway, after mismanagement and a myriad of other reasons, KDIC (Kenya Deposits Insurance Corporation) decided to send all the employees home.

The former employees got their termination letters dated 31st January 2022, on 8th February 2022. The letters indicated that our employment contracts end on 28th February 2022.

The terms of separation (terminal dues) have been disputed by 99% of the former employees. This is where it pains the most, when KDIC sent all the employees home, who are about 30 in number, they were reluctant to give timelines as to when they would pay the terminal dues and remain non-committal to date.

Here’s a person whose employment you’ve terminated abruptly and are now in no hurry to pay. Some former employees have received demand letters for defaulting on repayments, which are still accruing interest, by the way, others are getting eviction notices, others have tuition fees arrears, and then there is debt-shaming from other lending outfits. It is basically a challenge for most to make ends meet. As unfair as it is the officers at KDIC will get their salaries at the end of the month, yet they’re unsympathetic and in no hurry to process the terminal dues for a small section of Kenyans who recently got unemployed and need these funds to cushion them as they try to navigate their next course.

As a matter of fact, the receiver manager, who is said to be the one responsible for approving these payments is currently at the coast for training.

I assume his per diem and other travel expenses were approved in record time before he left for training a


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