Standard Bank should pay K2.9 billion to four former employees who were unfairly dismissed in 2017, the Industrial Relations Court (IRC) has ruled.
The court has made the ruling after four ex-employees complained that they were unfairly dismissed by the bank.
Lawyer for the claimants, Kalekeni Kaphale, has told the local media that some of his clients got fired after remaining with a few years to retire from the bank.
The Bank reportedly fired the four employees over alleged misconduct which included internal performance matters.
In his ruling, IRC Deputy Chairperson Peter Kandulu has agreed with the former Standard Bank employees and has awarded them K2.9 billion as compensation.
According to Kandulu, in coming up with the amount of money, the court has factored in the recent devaluation of the kwacha.
The four are Bernadette Kalumo who until 2017 had worked for Standard Bank for 40 years. Others are Travor Gamuti who had worked for the bank for 20 years, Wezi Chibambo for 36 years, and Fortune Ndovi for 27 years.
