200+ First Capital Bank Employees To Be Retrenched

In a restructuring exercise currently underway at First Capital Bank, 200+ employees are set to lose their jobs 263Chat revealed. The bank reportedly sent a memo to the would-be retrenches yesterday pledging to continue supporting each and every affected member. The memo read in part:

The restructuring exercise is a significant change and the bank remains commited to assist each colleague through this process. The HR Department has already communicated arrangements that have been put in place for the support services that includes counselling and financial advice.

The First Capital Bank Head of Corporate Affairs and Customer services confirmed the development to the same publication by saying:

First Capital bank Zimbabwe can confirm that some employees will be exiting the bank undera compulsory restructuring exercise. This has come at the back of the review of the operating model aimed at creating operational efficiencies. The exercise also seeks to respond to local and global trends impacting the banking industry.

This comes barely a month after First Capital Bank employees threatened to go on strike over low remunerations. Some workers were reportedly shaken by the sudden announcement.

More: 263Chat

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