By Own Correspondent

THE Zimbabwe Banks and Allied Workers Union (ZIBAWU) are headed for a collision course with the First Capital Bank (FCB) over deteriorating workers standards at an institution which was once prided as an example of good labour relations.

In a letter dated November 30 2021, addressed to the FCB shareholders under the care of one Mr Hitesh,  the union expressed “utmost disappointment” in the manner in which the new bank owners are treating workers.

“As the representative of the majority shareholder, you ought to be ashamed of the loss of goodwill that the business you acquired from Barclays Bank of Zimbabwe PLC has incurred to date as far as treatment of employees is concerned,” the letter said in part.

The union reminded the new shareholders how the employees union stood by them when a jostle to take over the institution erupted.

“Secondly you made a commitment before the employees at Holiday Inn Harare and on several other occasions that you would preserve employment and treat workers with dignity. However, we have watched with absolute shock and disbelief when you engaged in two brutal retrenchments where employees were let go with literally nothing,” said ZIBAWU.

The union issued a chilling warning to the board directing it to take immediate measures to improve working conditions in Zimbabwe or risk veering into an inevitable collision course with the employees which may be fatal to their brand.

The ZIBAWU general secretary Peter Mutasa demanded that FCB Zimbabwe must take immediate steps to start paying employees’ decent living wages which are aligned to the economic environment and performance of the bank.

He said the bank must commence genuine negotiations with the workers committee which must result in the payment of US$ salaries since the institution is generating adequate foreign currency amid calls to urgently stop the wanton and irresponsible retrenchments which take employees to their early graves.

“While we do not seek to cause industrial disharmony in your bank, please note that we are prepared to lodge perpetual campaigns against First Capital Bank until it begins to respect its employees and their rights at the workplace,” added ZIBAWU.

“As the representative of the majority shareholder , you ought to be ashamed of the loss of goodwill that the business you acquired from Barclays Bank of Zimbabwe PLC has incurred to date as far as treatment of employees is concerned,” the letter said in part.

Sources within ZIBAWU said workers at the  bank are earning between $32 000 and $40 000  which is far below the Total Consumption Poverty Lines (TCPL) with some being retrenched without  being paid adequate retrenchment packages.

Social dialogue with the employer has reportedly  broken down  with fears to dialogue crippling all efforts  to reaching a meaningful solution. Apart from these violations , the union reports that the bank is now  the worst employer in sector directly becoming the opposite of its former status when it traded under the brand name  Barclays Plc.