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Co-operative Bank fate.. discuss
Rank: Elder Joined: 6/23/2009 Posts: 13,518 Location: nairobi
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mawinder wrote:gatoho wrote:Kausha wrote:It was a raw deal. 1.5x the less of number of years worked or number of years to retirement plus 40% outstanding loan balance waiver. Damn them, a close relative fell victim and really not ideal. We are taking them to court first thing Monday morning!!!!!!!!!!! Thats unwise
HF 90,000 ABP 3.83; KQ 414,100 ABP 7.92; MTN 23,800 ABP 6.45
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Rank: Elder Joined: 2/26/2012 Posts: 15,980
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mawinder wrote:gatoho wrote:Kausha wrote:It was a raw deal. 1.5x the less of number of years worked or number of years to retirement plus 40% outstanding loan balance waiver. Damn them, a close relative fell victim and really not ideal. We are taking them to court first thing Monday morning!!!!!!!!!!! Wait first i sell then you sue them "There are only two emotions in the market, hope & fear. The problem is you hope when you should fear & fear when you should hope: - Jesse Livermore
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Rank: Veteran Joined: 11/15/2013 Posts: 1,977 Location: Here
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obiero wrote:mawinder wrote:gatoho wrote:Kausha wrote:It was a raw deal. 1.5x the less of number of years worked or number of years to retirement plus 40% outstanding loan balance waiver. Damn them, a close relative fell victim and really not ideal. We are taking them to court first thing Monday morning!!!!!!!!!!! Thats unwise that's true @ Obiero, @mawinder acccept and move on..... look for some other place...such a battle...huwezi lazimisha shareholders kukubakisha kazi when you are redidant....given mko na notice na a package.. Everybody STEALS, a THIEF is one who's CAUGHT stealing something of LITTLE VALUE. !!!
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Rank: New-farer Joined: 9/20/2010 Posts: 79
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wish 160 guys well.Has coop really completed the layoffs or many more are on the way cause the number is far less compared to the other banks.
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Rank: Elder Joined: 7/22/2009 Posts: 7,455
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Boris Boyka wrote:obiero wrote:mawinder wrote:gatoho wrote:Kausha wrote:It was a raw deal. 1.5x the less of number of years worked or number of years to retirement plus 40% outstanding loan balance waiver. Damn them, a close relative fell victim and really not ideal. We are taking them to court first thing Monday morning!!!!!!!!!!! Thats unwise that's true @ Obiero, @mawinder acccept and move on..... look for some other place...such a battle...huwezi lazimisha shareholders kukubakisha kazi when you are redidant....given mko na notice na a package.. Link: See post #222 and post #223Never count on making a good sale. Have the purchase price be so attractive that even a mediocre sale gives good returns.
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Rank: Elder Joined: 6/23/2009 Posts: 13,518 Location: nairobi
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MaichBlack wrote:Boris Boyka wrote:obiero wrote:mawinder wrote:gatoho wrote:Kausha wrote:It was a raw deal. 1.5x the less of number of years worked or number of years to retirement plus 40% outstanding loan balance waiver. Damn them, a close relative fell victim and really not ideal. We are taking them to court first thing Monday morning!!!!!!!!!!! Thats unwise that's true @ Obiero, @mawinder acccept and move on..... look for some other place...such a battle...huwezi lazimisha shareholders kukubakisha kazi when you are redidant....given mko na notice na a package.. Link: See post #222 and post #223 Hahaha
HF 90,000 ABP 3.83; KQ 414,100 ABP 7.92; MTN 23,800 ABP 6.45
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Rank: Elder Joined: 4/22/2010 Posts: 11,522 Location: Nairobi
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mawinder wrote:gatoho wrote:Kausha wrote:It was a raw deal. 1.5x the less of number of years worked or number of years to retirement plus 40% outstanding loan balance waiver. Damn them, a close relative fell victim and really not ideal. We are taking them to court first thing Monday morning!!!!!!!!!!! Let them go to Court. It's their right. Though going by the terms they got they may not get much... As per Section 40 of the Employment Act redundancy is payable at the rate of 15 days for each year of service possunt quia posse videntur
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Rank: Veteran Joined: 11/15/2013 Posts: 1,977 Location: Here
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obiero wrote:MaichBlack wrote:Boris Boyka wrote:obiero wrote:mawinder wrote:gatoho wrote:Kausha wrote:It was a raw deal. 1.5x the less of number of years worked or number of years to retirement plus 40% outstanding loan balance waiver. Damn them, a close relative fell victim and really not ideal. We are taking them to court first thing Monday morning!!!!!!!!!!! Thats unwise that's true @ Obiero, @mawinder acccept and move on..... look for some other place...such a battle...huwezi lazimisha shareholders kukubakisha kazi when you are redidant....given mko na notice na a package.. Link: See post #222 and post #223 Hahaha  Everybody STEALS, a THIEF is one who's CAUGHT stealing something of LITTLE VALUE. !!!
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Rank: Elder Joined: 4/30/2008 Posts: 6,029
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maka wrote:mawinder wrote:gatoho wrote:Kausha wrote:It was a raw deal. 1.5x the less of number of years worked or number of years to retirement plus 40% outstanding loan balance waiver. Damn them, a close relative fell victim and really not ideal. We are taking them to court first thing Monday morning!!!!!!!!!!! Let them go to Court. It's their right. Though going by the terms they got they may not get much... As per Section 40 of the Employment Act redundancy is payable at the rate of 15 days for each year of service @maka,your fellow lawyers Titus Koceyo and matthew Oseko have began looking for the retrenchees.It is a big industry, they have done it in the past and that is how they make their money.A link on their pas pursuits is here http://www.standardmedia...-pensioners&pageNo=1
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Rank: Veteran Joined: 9/18/2014 Posts: 1,127
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Rankaz13 wrote:obiero wrote:@rankaz share the inside scoop. ama ni porojo tu unauza I wouldn't delve into too much detail without jeopardizing my sources. But the key word is procurement. Serious 'chicken' being shared out amongst the senior fellows. And I mean procurement of everything literally, from the core-banking system software, security guards services, leasing of buildings in which some of their branches are located, etc etc. @rankaz I second you on the part of leasing of not some but most of their respective branch buildings.... serious 'chicken ' I tell you. The main purpose of the stock market is to make fools of as many people as possible.
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Rank: User Joined: 8/15/2013 Posts: 13,237 Location: Vacuum
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murchr wrote:mawinder wrote:gatoho wrote:Kausha wrote:It was a raw deal. 1.5x the less of number of years worked or number of years to retirement plus 40% outstanding loan balance waiver. Damn them, a close relative fell victim and really not ideal. We are taking them to court first thing Monday morning!!!!!!!!!!! Wait first i sell then you sue them Shenzi! If Obiero did it, Who Am I?
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Rank: Elder Joined: 8/16/2011 Posts: 2,297
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lochaz-index wrote:Rankaz13 wrote:obiero wrote:@rankaz share the inside scoop. ama ni porojo tu unauza I wouldn't delve into too much detail without jeopardizing my sources. But the key word is procurement. Serious 'chicken' being shared out amongst the senior fellows. And I mean procurement of everything literally, from the core-banking system software, security guards services, leasing of buildings in which some of their branches are located, etc etc. @rankaz I second you on the part of leasing of not some but most of their respective branch buildings.... serious 'chicken ' I tell you. Did all these 160 Managers have loans  ? What was the initial staff Company agreement on mode of payment? The best thing is management staff enjoy good package and no union matters in them. 
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Rank: Elder Joined: 7/21/2010 Posts: 6,183 Location: nairobi
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Losing a job of this status in a country crowded with unemployment is sooooo painful "Don't let the fear of losing be greater than the excitement of winning."
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Rank: Veteran Joined: 12/8/2009 Posts: 975 Location: Nairobi
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mlennyma wrote:Losing a job of this status in a country crowded with unemployment is sooooo painful very very true With xmas just next week there is no holiday for them. On the brighter side, such circumstances bring out the best in some people. They are then able to take risks that they previously could not! You will know that you have arrived when money and time are not mutually exclusive "events" in you life!
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Rank: Veteran Joined: 2/10/2010 Posts: 1,001 Location: River Road
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mlennyma wrote:Losing a job of this status in a country crowded with unemployment is sooooo painful What were they doing in those 15 years that they can't stand on their own. If they can't then they were just dead weight employees. Employment is modern day slavery
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Rank: New-farer Joined: 9/20/2010 Posts: 79
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seems this layoff hasnt had an effect on the price despite it being a costly exercise for sure.
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Rank: Veteran Joined: 11/15/2013 Posts: 1,977 Location: Here
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The 160 managers have agross salary of 300-500k. most have worked for btwn 15-35yrs. computation is using the gross salary. A good number of employees were praying to be among the 160. it seems to be a blessing in disguise. surely si mbaya. RINK rafiki mfanyikazi wa ndani Everybody STEALS, a THIEF is one who's CAUGHT stealing something of LITTLE VALUE. !!!
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Rank: Elder Joined: 4/22/2010 Posts: 11,522 Location: Nairobi
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Boris Boyka wrote:The 160 managers have agross salary of 300-500k. most have worked for btwn 15-35yrs. computation is using the gross salary. A good number of employees were praying to be among the 160. it seems to be a blessing in disguise. surely si mbaya. RINK rafiki mfanyikazi wa ndani They can't get a better deal anywhere on this planet... possunt quia posse videntur
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Rank: Elder Joined: 7/11/2012 Posts: 5,222
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lochaz-index wrote:Rankaz13 wrote:obiero wrote:@rankaz share the inside scoop. ama ni porojo tu unauza I wouldn't delve into too much detail without jeopardizing my sources. But the key word is procurement. Serious 'chicken' being shared out amongst the senior fellows. And I mean procurement of everything literally, from the core-banking system software, security guards services, leasing of buildings in which some of their branches are located, etc etc. @rankaz I second you on the part of leasing of not some but most of their respective branch buildings.... serious 'chicken ' I tell you. Kwanza the lessor who moved from Mambasani to South Sudi.. Serious serious shiken, mbora top-tok apatake yake.
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Rank: Member Joined: 7/20/2011 Posts: 161 Location: nairobi
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maka wrote:Boris Boyka wrote:The 160 managers have agross salary of 300-500k. most have worked for btwn 15-35yrs. computation is using the gross salary. A good number of employees were praying to be among the 160. it seems to be a blessing in disguise. surely si mbaya. RINK rafiki mfanyikazi wa ndani They can't get a better deal anywhere on this planet... Patience. You cannot have a baby in one month by impregnating nine women....
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