First Merchant Bank employees to strike on Sep 26

First Merchant Bank (FMB) employees across the country are planning to go on strike on September 26 to protest against"meagre salaries" and "miserable" allowances, Nyasa Times understands.

"Come 26September if our concerns are not addressed there will be no work – we have done enough communications," says an email of workers union circulated to bank members.

"This industrial action will be legal," it stressed.

"It is with great concern that Management has decided to ignore our plea despite several communications to improve on remuneration and emoluments," said the union in a Circular No. 60/11, obtained by Nyasa Times.

This is the head office of the First Merchant Bank in Blantyre

"The Bank has not elaborated in the circular to convince the employees as to why despite the high profits it has posted, it is still maintaining the stand to reward meagre salaries & miserable allowances which do not befit the hardworking staff," it reads.

"We strongly feel that we have a right to ask for better wages in exchange for labour. We view the failure by Management to address our concerns as inconsiderate and very frustrating," reads the correspondence.

"We insist that based on the excellent results that the bank has posted over the years which are a resultant of the toil by the workforce. Members of staff deserve a better package.

"Unless convinced otherwise we are of the view that the bank is abusing its members of staff. This kind of reward is like Thangata system, where the people are made to work very hard with little or no pay."

The workers noted that time and again FMB has told its members of staff that they have matched National Bank of Malawi in terms of salaries while their findings have revealed that the assertions are unfounded.

"Our allowances are very laughable in the financial industry, hence urgent need to be revisited," said the circular.

Furthermore, the employees said they  were promised free allotted FMB shares after 5 years to buy their  loyalty "but just to change the statement now that any member of staff who was allocated shares should redeem them, which digs deeper in our pockets. "

The staff said they have set out 25th September, 2011 as deadline to address their concerns without which they start industrial strike action.

Nyasa Times 12 Sep, 2011

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Source: http://www.nyasatimes.com/business/first-merchant-bank-employees-to-strike-on-sep-26/
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