Connect with us

Hi, what are you looking for?

Cyprian Is Nyakundi

News

The foreigner behind Absa Bank Kenya retrenchments

 

David Hardisty, Retail and Business Banking Director, Absa Bank of Kenya

Struggling bank Absa Kenya (formerly Barclays) is on a retrenchment spree.

According to sources, the bank plans to fire about 250 staff members in a cost-cutting drive.

A foreigner by the name David Hardisty is the one leading the retrenchment and redundancy drive.

READ: Social media users react after Kenyans leave racist law firm en masse

“Some staff members were asked to take voluntary early retirement in November 2020. Others were issued with redundancy letters in January 2021”, said a source.

Cnyakundi.com has learnt that the above two groups constitute senior and middle-level management and they are about 150. As for the remaining junior staff, the bank wants to sack them for non-performance.

In 2020, the bank’s net profit in the first nine months of 2020 fell by 65% to Sh1.9 billion, from Sh5.6 billion reported in the same period in 2019. – Stuggling Bank

Pegging a mass sacking of staff on non-performance is easier done on junior staff since most don’t have the financial muscle to challenge the bank in court. The bank also wants to escape the responsibility of paying them ‘a parting fee. According to labour laws, redundant staff must be paid full pay calculated for each year worked.

Barclays Director of Retail and Business Banking David Hardisty and Centum Real Estate Managing Director Samuel Kariuki exchange documents during the signing of a mortgage financing deal.

So six months later, Hardisty and slave-driving Human Resources devices a plan in the middle of a pandemic to issue the cashiers, personal bankers and sales staff with warning letters due to low performance.

READ: The Results Of Racism At Coulson Harney Advocates

As February 2021 comes to a close, over 200 Absa Bank Kenya staff will find themselves on the cold streets of Nairobi, jobless.

 


Would you like to get published on this Popular Blog? You can now email Cyprian Nyakundi any breaking news, Exposes, story ideas, human interest articles or interesting videos on: [email protected] Videos and pictures can be sent to +254 710 280 973 on WhatsApp, Signal and Telegram.


Comments

comments

Click to comment

Facebook

You May Also Like

General

Bill and Melinda Gates, listed as one of the most super-rich living human beings by Forbes magazine have reportedly released hundreds of millions of...

Entertainment

Representatives from SK Macharia owned Royal Media Services have this morning confirmed that infamous Nakuru-born comedian Herman Gakobo Kago alias Prof Hamo is no...

News

Shock waves rang through Bei Yetu Supermarket on Sunday after one of the customers at the Ndumbuini-based retail outlet received a hot slap from...

News

A scary piece of footage showing an attempted armed robbery in Kikuyu is the latest trending topic on social media. In the clip that...

Copyright © 2021 Cyprian Is Nyakundi.