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ZCTU condemns bank retrenchments

The Zimbabwe Congress of Trade Unions (ZCTU) has condemned the ongoing retrenchments being undertaken by the Agribank and the Infrastructural Development Bank of Zimbabwe (IDBZ) and has urged authorities to safeguard the interests of employees.


Addressing journalists in Harare yesterday, ZCTU secretary-general Japhet Moyo said: “IDBZ and Agribank have defied a government directive to reduce management salaries to a maximum of $6 000 a month and have continued to pay salaries in the range of $31 500 and $27 000 respectively.”

Moyo added: “We are calling upon these banks to reduce management salaries instead of sending away workers who are taking home insignificant amounts in labour costs. Compliance with salary caps announced by government would save the banks a lot of money that could be used to improve the workers’ conditions of service. We expect the banks, as public enterprises, to lead by example and take a leading role in preserving jobs.”

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