Lillian Hapanyengwi, the head of corporate affairs at Standard Chartered Bank Zimbabwe Ltd has confirmed the reports that the Bank has started cutting some jobs as it is migrating some of its operations from Zimbabwe to China, India, and Malaysia.
It is reported that the Bank has already issued a circular that resulted in the cutting of 20 jobs at a Harare based unit.
Hapanyengwi opined that outsourcing some activities to the parent’s global business services division is aimed at trimming costs as more customers embrace digital banking. She also said that the Bank would “redeploy impacted staff wherever possible.”
Peter Mutasa, president of the Zimbabwe Congress of Trade Unions, said that the Bank started last year retrenching people. He also said that the government must have policies that compel employees to take care of employees upon retrenchment.
Mutasa also revealed that there are other companies and mines which are halting operations due to the current economic crisis.
More: The Zimbabwean