Workers Union, Econet clash over salary cuts

Zimbabwe Banks and Allied Workers Union (Zibawu) is entangled in a bitter wrangle with Econet Wireless Zimbabwe (Econet)'s wholly owned subsidiary Steward Bank over the bank's decision to cut employee salaries by 20%.

The union charges that the proposed compulsory 20% salary cut effective July 1, 2015 is unfair on the grounds that some of the employees transferred from Econet to Steward Bank get better salaries compared to those that have been with the bank prior to its acquisition by the mobile operator.

It is said that former Econet employees are earning US$3 000 while those who have been with the bank before it rebranded to Steward Bank are getting just US$800 for the same job.