Standard Chartered Bank management and the workers union are in a deadlock over negotiations for a salary increase. The union is contemplating industrial action after the bank awarded them a five percent increase for non-managerial staff instead of the nine percent they wanted. Negotiations between the two parties started in April but reached a stalemate in August. Standard Chartered has also parted ways with one of its top Motswana executives, Rutang Moses, who had been expected to take over from expatriate managing director, David Cutting at the end of his contract.
While initial reports were that Moses had resigned from the bank, Mmegi has since learnt that she was suspended before she tendered her resignation. Moses, who held the position of head of compliance and assurance, was not available for comment. However, Standard Chartered Head of Corporate Affairs, Ithabeleng Letsunyane confirmed that Moses had left for greener pastures but would not comment on the suspension stating that they do not discuss the bank's internal matters.
