wazua Thu, Mar 19, 2026
Welcome Guest Search | Active Topics | Log In

70 Pages<12345>»
Co-operative Bank fate.. discuss
Options
Previous Topic · Next Topic
murchr
#21 Posted : Thursday, December 11, 2014 6:51:04 PM
Rank: Elder

Joined: 2/26/2012
Posts: 15,980
Am waiting for 20/-then I sell, I interucted with a few employees and realised even understanding a simple email was a problem. Very useless bunch of people
"There are only two emotions in the market, hope & fear. The problem is you hope when you should fear & fear when you should hope: - Jesse Livermore
.
Back to top
  | | Edit by user: Thursday, December 11, 2014 7:26 PM | Reason: Not specified
Kalameni
#22 Posted : Thursday, December 11, 2014 7:20:08 PM
Rank: New-farer

Joined: 9/20/2010
Posts: 80
mckinsey are masters in recommending job cuts wherever they go.They just had to do likewise in coop.Wonder what formula they use to calculate an exit package to the 160 fellows nd will the cost implications affect fy2014 results.
Back to top
  |
murchr
#23 Posted : Thursday, December 11, 2014 7:26:14 PM
Rank: Elder

Joined: 2/26/2012
Posts: 15,980
Kalameni wrote:
mckinsey are masters in recommending job cuts wherever they go.They just had to do likewise in coop.Wonder what formula they use to calculate an exit package to the 160 fellows nd will the cost implications affect fy2014 results.






If 160 managers are axed, then that means even those under the managers are on their way out too. 160 Managers ni wengi sana, that was one bloated workforce
"There are only two emotions in the market, hope & fear. The problem is you hope when you should fear & fear when you should hope: - Jesse Livermore
.
Back to top
  |
Bykhovets
#24 Posted : Thursday, December 11, 2014 9:02:35 PM
Rank: Member

Joined: 5/17/2014
Posts: 231
Managers? An employee from Co-op has told me that in the last 3 years everyone who has been employed at Co-op was on contract and their entry level was management (even for tellers). Apparently, managers are not supposed to join unions and their contracts had fixed salaries over the duration of the contract. However, there was a union resolution this year that led to all banking employees getting an increase in pay (even for those with fixed contracts). I guess that's why the employees are now being declared redundant. Anyway, Co-op needs more help than just firing employees. Iko shida mahali.
"Occasionally I drop a tea cup to shatter on the floor. On purpose. I am not satisfied when it does not gather itself up again. Someday perhaps that cup will come together."
Back to top
  |
obiero
#25 Posted : Friday, December 12, 2014 12:35:59 AM
Rank: Elder

Joined: 6/23/2009
Posts: 14,213
Location: nairobi
murchr wrote:
Am waiting for 20/-then I sell, I interucted with a few employees and realised even understanding a simple email was a problem. Very useless bunch of people

U are the useless person.. How come many fairly learned people are having difficulty undertanding one email.. Kuwa mpole uone Raila akiapishwa kuwa rais

KQ ABP 4.26
Back to top
WWW
  |
murchr
#26 Posted : Friday, December 12, 2014 12:52:23 AM
Rank: Elder

Joined: 2/26/2012
Posts: 15,980
obiero wrote:
murchr wrote:
Am waiting for 20/-then I sell, I interucted with a few employees and realised even understanding a simple email was a problem. Very useless bunch of people

U are the useless person.. How come many fairly learned people are having difficulty undertanding one email.. Kuwa mpole uone Raila akiapishwa kuwa rais


I probably dealt with you haha, but the email was not from me rather a third party asking them to give just one detail officially. They have so much bureaucracy that gets the employees spinning all over their seats. It wasnt until the matter was escalated to a Senior Manager, and I one of the customers taking my feet there, that the issue was kinda resolved. PS it was just one sentence. "Please send us your ****code and ****** number so as to enable us better serve your customers in a more efficient way. Address your letter to the CEO".

PS. Utangoja sana nikuwe mpole.
"There are only two emotions in the market, hope & fear. The problem is you hope when you should fear & fear when you should hope: - Jesse Livermore
.
Back to top
  |
Bachuma Gate
#27 Posted : Friday, December 12, 2014 4:35:49 AM
Rank: Member

Joined: 3/26/2012
Posts: 280
Majority of these managers are guys who had worked for more than 10years and had risen thru the ranks. They were earning huge salaries and allowances. Few had done more than 25yrs. Its a way cutting costs as the staff who will be performing their tasks are earning much less.
DOH
Back to top
  | | Edit by user: Friday, December 12, 2014 4:40 AM | Reason: Not specified
Boris Boyka
#28 Posted : Friday, December 12, 2014 7:41:23 AM
Rank: Veteran

Joined: 11/15/2013
Posts: 1,977
Location: Here
Bachuma Gate wrote:
Majority of these managers are guys who had worked for more than 10years and had risen thru the ranks. They were earning huge salaries and allowances. Few had done more than 25yrs. Its a way cutting costs as the staff who will be performing their tasks are earning much less.

In the banking sector you rise faster in ranks to your exit....kwaida then new staff are highered at lower salaries....
Everybody STEALS, a THIEF is one who's CAUGHT stealing something of LITTLE VALUE. !!!
Back to top
  |
Boris Boyka
#29 Posted : Friday, December 12, 2014 8:59:20 AM
Rank: Veteran

Joined: 11/15/2013
Posts: 1,977
Location: Here
Boris Boyka wrote:
Bachuma Gate wrote:
Majority of these managers are guys who had worked for more than 10years and had risen thru the ranks. They were earning huge salaries and allowances. Few had done more than 25yrs. Its a way cutting costs as the staff who will be performing their tasks are earning much less.

In the banking sector you rise faster in ranks to your exit....kwaida then new staff are highered at lower salaries....

Quote:
Sources within the bank said the sacked employees have been offered a soft landing with a package that includes one-and-
a-half month salary for every year worked and the offsetting of
40 per cent of loans held with the bank.Beneficiaries must, however, pay the remaining 60 per cent immediately.Apart from salaries, other costs associated with bank staff include medical cover, retirement benefits, training expenses
and tax implications of lower priced loans.
Everybody STEALS, a THIEF is one who's CAUGHT stealing something of LITTLE VALUE. !!!
Back to top
  |
obiero
#30 Posted : Friday, December 12, 2014 2:20:29 PM
Rank: Elder

Joined: 6/23/2009
Posts: 14,213
Location: nairobi
1.5 month pay for each year worked sounds like a raw deal considering 40% loan rebate.. If I recall right, KCB had 100% loan pay off

KQ ABP 4.26
Back to top
WWW
  |
70 Pages<12345>»
Forum Jump  
You cannot post new topics in this forum.
You cannot reply to topics in this forum.
You cannot delete your posts in this forum.
You cannot edit your posts in this forum.
You cannot create polls in this forum.
You cannot vote in polls in this forum.

Wazua Investor Theme
Powered by YAF | YAF © 2003-2009, Yet Another Forum.NET
Copyright © 2026 Wazua.co.ke. All Rights Reserved.