100 to lose jobs as bank ‘restructured’

[nngu007]

Thursday, 24 May 2012 22:23

​ By The Citizen Reporter Dar es Salaam. Around 100 people currently employed by Barclays Bank Tanzania will lose their jobs by the end of the year following a restructuring programme it has adopted. In a statement issued in Dar es Salaam yesterday, the bank announced plans to close up to ten of its 10 branches in the country before the year's end. "This is part of the organisation's strategy to realign our geographical presence in the country," said Mr Kihara Maina, the managing director of the bank which has a network of 32 branches across the country. He went on to say: "It is not a decision we are making lightly, but if we are going to improve our services, performance and meet our ambitious goals in Tanzania, we must make sure we are positioned appropriately to deliver against expectations." Mr Maina further said that the decision would enable the bank to more effectively invest in opportunities as they present themselves.The bank said interests of the affected employees were being looked after in accordance with the country's laws and Barclays Bank policies. He assured clients that services would not be affected as a result of the decision. It confirmed that it has put in place measures to minimise the disruption in service for its customers. According to the managing director, dedicated teams have been set up to address both employee and customer concerns.Customers will not be required to open new accounts as their existing ones will be transferred to the remaining branches, he added.

 

[nngu007]

I don't live in Tanzania what i'm surprised with this topic is they are going to close up to 10 of it's 10 branches.

So, is closing every branch? Well Capitalist Economy Profit Maximization ... Don't care about Workers what are they

going survive after layoff.

 

[wehoodie]

Of recent years there was mushrooming of barclays branches targeting the majority low income earners. Most of these 'fastfood sort of' branches are rather mini-bank than full banks. Whoever was behind this ambitious strategy proved failure and i'm not surprised.....it's better for them to recollect and focus on bigtime banking deals. I suspect the cost of running those branches far outweigh the benefits. The most viable strategy is to trade and grow naturally which will be even tough as more new banks are entering the markets notably Kenyan giant equity bank. Some banks like stanchart have been around for a while now but they have very few branches and those branch are strategically located in prime areas.

The more grey areas though is with the laid off employees. Its definetly a tough transition for them. Who will survive longer with his usual lifestyle without monthly check.....?!

 

[zomba]

I don't live in Tanzania what i'm surprised with this topic is they are going to close up to 10 of it's 10 branches.

So, is closing every branch? Well Capitalist Economy Profit Maximization ... Don't care about Workers what are they

going survive after layoff.

How did they survive before joining Barclays or they were born in Barclays?

 

[reandle]

Some years back, almost Four Years ago we were discussing about new business strategy of Barclays Bank; especially kuhusu ufunguzi wa matawi mapya......it seems walitaka ku-adopt NMB strategy ya kuhakikisha wanafika kila kona. Nakumbuka kuwaambia wadau, ingawaje walinipinga kwamba, hiyo strategy haita-last long....!! Nikawaambia wazi kwamba, maneno ya wa2 na media kwamba NMB ni benki ya walalahoi imesaidia sana kuifanya NMB ionekane kweli ni benki ya walalahoi kiasi kwamba an ordinary Tanzanian can move freely to any NMB Branch hall than Barclays Branch ambayo tangu awali ilishajipambanua kwamba ni bank for specific class!! It was 2008, today 2012 !!!! Haya yanayotokea siwezi kuyashangaa hata chembe, sana sana naweza kushangaa kwamba yamechelewa ingawaje kwa large entity like Barclays wala hayakuchelewa!