The Standard Group Chief Executive Officer (CEO) Marion Mwangi Gathoga has announced that the Company will meet former employees at the company’s headquarters on Thursday, November 28, 2024.
According to The Standard, the meeting is meant to address outstanding issues, including the company’s ongoing financial restructuring efforts and collection of outstanding debts.
This is part of her plan to collaborate with different stakeholders on important company concerns like the collection of outstanding debts, the regularization of employee benefits and the reorganization of the company’s products and services.
Mwangi acknowledged the financial challenges faced by the organization.
Additionally, she emphasized the Group’s commitment to resolving pending dues to former employees.
“I understand that some of our former employees are still owed their benefits, and we are diligently working to address this issue. I empathize with their situation, and this meeting aims to outline our plan to resolve their outstanding dues, “Mwangi said.
The meeting aims to create an avenue for transparent discussion between the company’s leadership and former staff.
Attendees are requested to bring identification documents for verification purposes.
The CEO has put in place a strategy to bring together all stakeholders as Standard Group undergoes transformation.
She recently met with the current staff where she discussed the Company’s strategic decisions and financial restructuring.
Additionally, she expressed confidence in guiding the company as it undergoes change and growth.
Standard Group Staff Lates Strike Threats
The Company has faced prolonged financial constraints leading to unpaid dues, unremitted contributions, and constant industrial threats from the employees.
On November 23, the Group’s employees threatened to down their tools due to unresolved issues by the management.
A source told The Kenya Times, that some employees have not received salaries for up to five months.
The source mentioned that the workers declared redundant were allegedly misled about the settlement of their arrears, further fueling discontent within the workforce.
“Some are owed as much as 5 months. Those who were declared redundant were lied to about settling the arrears,” the source said.
Also Read: Standard Group Employees Announce Total Shutdown
Workers Laid Off
The Standard Group declared some of their employees redundant in July 2024.
In the letter, the Company announced plans to fire more than 300 employees as part of its reorganization plan.
The company committed to providing former employees with a one-year redundancy payment plan, with payments set for September, October, and November 2024.
Also Read: Standard Chartered Bank Announces Leadership Changes
Former Staff Not Yet Paid
However, former employees decried that they have not received any payment since they were laid off.
In statement, they said some of them have faced evictions due to rent arrears, while others cannot afford to pay school fees arrears to get clearance for children in private schools to join public schools.
“Many are struggling to put food on the table while those with underlying conditions cannot afford essential drugs and diet. Some have resorted to construction jobs and other casual work to buy food for their children,” reads part of the statement.
The former employees said the Company had not paid current and former employees eight months’ salary.
The arrears are for June, July, and August 2023, as well as March, April, May, June, and July 2024.
Marion Mwangi took over from Joe Munene who was the acting CEO. The Standard Group Board appointed Munene after Orlando Lyomu resigned.
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