More than 100 managers to leave Barclays Bank

Barclays Bank Zambia will on Monday 29 November 2010 part company with about 140 managers whose positions have been downgraded.
The managerial positions have been downgraded and the job-holders have been asked to either confirm they will continue working in the inferior positions or apply for a position within the bank at a grade lower than the substantive position.
If the optional application for another job in the downgraded portfolio does not meet the conditions, it therefore means that the officer will be automatically declared redundant.
Sources within the Barclays Bank management who have been affected by the move told the Zambian Watchdog that most of the managerial positions at head office are affected and all of them have been asked to confirm their intentions whether to continue working for the bank or not by Monday 29 November, 2010.
The sources further said the affected departments so far are sales and marketing where they sell bank products like loans and the operations department.
Out of the Barclays Bank branch network, only the newly opened Manda Hill and Longacres Premier Life have been downgraded and the managers will not be entitled to personal-to-holder vehicles and have been given the option to decide whether they are keen on continuing with the bank.
Barclays Bank recently appointed Saviour Chibiya as its Zambian indigenous managing director and takes office on December 15 this year.

Share this post