Latest Intel reaching us is that KCB intends to carry out massive retrenchment next year in the name of restructuring.
This is what informed the sacking of immediate chairman of KCB BIFU-BIFU Chapter Mr. Gabriel Okomo 3 weeks ago and his predecessor Mr. William Ololchike 3 months ago so as to weaken the Union to ensure the entire process proceeds unquestioned.
More shocking is the fact that the sorting department that comprises mainly support staff and deals primarily will mail deliveries and collections was outsourced to G4S Company last month(November 2018).
The retrenchment package was equally poor as we were paid half of the basic salary for the number of years worked which was also capped at 15 years with a 20% rebate on their outstanding loans.
This means an employee earning Kshs. 100,000 and had worked for 25 years only took home (100, 000×0.5×15)=Kshs. 750, 000. When the tax element is factored in 750000-(30%×750000)=Kshs 525,000.
This is the shock that awaits most employees that generate over Kshs. 20 billion in profits come next year.
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