Strike looms at Stanchart

And the bank faces the prospect of industrial action after union officials advised workers to brace for a bruising fight against the employers.
The Zimbabwe Bank and Allied Workers’ Union lambasted Stanchart for paying its workers at National Employment Council minimum levels.
This follows threats issued by the bank’s workers to embark on industrial action to press for better pay.
Banks settled with union representatives on a US$575 minimum salary in July in addition to US$150 and US$26 housing and transport allowances.
Zibawu yesterday said it supported the workers’ planned collective job action because the move was both “lawful” and “authorised”.
Standard Chartered Bank acting chief executive Mr Lucas Chirume said the issue was “currently before the courts and you will appreciate that for reasons of confidentiality, we cannot give more details on any pending litigation”.
“We have always maintained that management is willing to meet union workers to discuss any issues,” he said. “The bank remains committed to the long-term interests of our staff and their families.”
But Zibawu said it was “unimaginable” that a bank as big and as profitable as Stanchart could pay its workers “at National Employment Council minima”.
“The union strongly condemns Standard Chartered Bank’s (Zimbabwe) treatment of non-managerial employees,” he said. “The fact that you remain among the lowest-paid employees in the sector when your institution is among the most profitable (banks) clearly justifies your anger.”
The union also accused the bank of refusing to discuss employees share ownership scheme, saying the bank “did not care” for its workers’ welfare.
“What it means is that the bank is not concerned about employees’ welfare and is concerned with reaping from ‘your toil’ for its shareholders.”
The union said it would not allow the “cheap exploitation” of workers’ labour for “super profits” while the profits were repatriated to the UK.
“We are aware of your pain and suffering at the hands of this bank and will do everything within our legitimate power to free you from this bondage of modern-day slavery. The process starts with the participation of every employee in this struggle,” said Zibawu in a statement.
Added Zibawu: “So get ready for action as soon as the workers’ committee blows the whistle and the union authenticates (the industrial) action.”
The union representatives said they were waiting for a certificate of no settlement from the Ministry of Labour after a failed conciliation hearing. The certificate was expected between yesterday and today.