By BUUMBA CHIMBULUABSA Bank Zambia did not implement any redundancy programme during the transition from Barclays Bank despite the challenging economic environment and all employees have valid contracts. This is according to Absa Bank Zambia Head marketing and Corporate Relations, Mato Shimabale. Mr Shimabale explained that the transition from Barclays Bank Zambia Plc to Absa Bank Zambia Plc was treated by law as a name change because the bank remained a going concern. He said this in a press query yesterday, this meant that the Bank would continue to operate as normal for the foreseeable future. “This also entails that all obligations including benefits accrued by employees for the years served under Barclays, have transferred to Absa who will honour those payments as and when they are due,” Mr Shimabale said. He was responding to an article from Zambia Reports, an online publication, which said over 520 Absa Bank employees were working without contracts after […]
ABSA Bank rejects redundancy claims
