GNCB staff reject $170M severance offer
Go slow starts today
Stabroek News
January 31, 2003
Workers at the Guyana National Cooperative Bank (GNCB) will today begin industrial action to press government for a better severance package in light of their impending severance.
Staff of the bank set to be merged with NBIC are pressing for a better deal than a $170M proposal submitted to them from cabinet via the Privatisation Unit (PU).
The action, a release from the bank’s staff association yesterday said, was necessary in light of what it said was the unacceptable package that government was offering them.
The association is demanding a package of nothing less than six weeks pay for each year across-the-board with a cap of 104 weeks.
It is also seeking a training grant of no less than 10% of severance along with all outstanding allowances and benefits.
According to the association, this is justified since employees would have to support themselves and families for an indefinite period until they are able to find new jobs.
Further it is their belief that government having given out similar packages to workers in other sectors should treat those at GNCB no differently.
The package being proposed is said to be similar to that offered to workers at the time of the merger of GAIBANK with GNCB in 1996.
On that occasion, the package was an optional one with those not willing to accept it being hired by GNCB.
According to the staff association release, the GAIBANK package would inevitably lead to more social and economic problems for workers, a high level of whom would be displaced by the takeover. (Oscar P. Clarke)
