Comments on: CBK Terminated All Employee Contracts

By: Khaled

Khaled — Fri, 17 Apr 2009 11:10:06 +0000

Hey mark I would just like to clarify some points on the issue. Here is a link to a post on c&n which i wrote:

http://chartsandnumbers.com/2009/04/13/cbk-offers-employees-no-promises/

thanks

By: mentabolism

mentabolism — Thu, 16 Apr 2009 05:17:15 +0000

does this mean they are in the red…time to stop dealing with them and pull out all your cash??

By: Me

Me — Wed, 15 Apr 2009 05:35:28 +0000

looooooool @q8shadow

By: sAmUrAi

sAmUrAi — Tue, 14 Apr 2009 16:22:12 +0000

I got a friend working at CBK, he’d told me CBK’s been in trouble for a long time right after the investment houses started going down.

By: Hielda

Hielda — Tue, 14 Apr 2009 06:46:00 +0000

Apple.pie ,,,, that is BKME & not CBK

By: apple.pie

apple.pie — Mon, 13 Apr 2009 21:00:11 +0000

Isn’t it CBK planning to become Islamic?

By: 3azeez

3azeez — Mon, 13 Apr 2009 19:20:46 +0000

Thats stupid and makes no sense. If workers refuse to sign the new contracts the Bank will be forced to pay millions as the bank will have to pay each employer under Kuwaiti employment laws.

By: Ali

Ali — Mon, 13 Apr 2009 13:19:47 +0000

I guess this news is partly true. Since i had a couple of friends and spoke to him and they told me that they are getting the salary in advance and they will be having new contracts with less bonus or no bonus depands on the grade of the employee. But no salary cut so far.
hope for the best .

By: Marzouq

Marzouq — Mon, 13 Apr 2009 12:42:53 +0000

A very sad state of affairs!! They r losing their indemnity which isn’t legal, and CBK will be losing their workforce!

By: q8shadow

q8shadow — Mon, 13 Apr 2009 12:07:23 +0000

If she is I don’t like her. She is scandalous.

Maybe CBK trying to fire some Kuwaitis lol, renew everyones contract except the bad Kuwaitis ? :p

By: Kuwait

Kuwait — Mon, 13 Apr 2009 11:49:04 +0000

I didn’t know NBK was female.

By: Armani Exchanger

Armani Exchanger — Mon, 13 Apr 2009 07:52:12 +0000

NBK terminated 20 of her non-Kuwaiti employees with couples of month advance salary.

By: emily

emily — Mon, 13 Apr 2009 06:26:10 +0000

Actually, under Article 54 of Kuwait Labour Law, if your employer terminates your employment you are entitled to terminal service indemnity of:

1) ten days wages for each of the first five years of employment and 15 days wages for each year after that (or pro rata’d as appropriate)for workers paid daily/weekly/hourly/per piece.

2)15 days wages for each of the first five years of employment and one month wages for each year after that (or pro rata’d as appropriate)for workers paid monthly.

You do not lose the right to such indemnity unless your employment is terminated for one of the reasons set out in article 55, which include:

a) comitting a falt causing serious loss to employer
b) repeatedly disobeying employers instructions (except where health and safetuy is concerned) – and after employer has followed company policy of disciplinary action
c)absent from work for seven days with no legal reason
d)convicted of a crime concerning honesty, honour or morality
e)commits an act against public morality in place of work
f)assaults a fellow worker during or because of work- and after employer has followed company policy of disciplinary action
g) breaches his employemnt contract or Kuwait Labour Law
h)it is proved s/he used fraud to obtain employment
i)reveals trade secrets

By: Desert Girl

Desert Girl — Mon, 13 Apr 2009 04:13:27 +0000

Welcome to the New Kuwait.

By: nyx

nyx — Sun, 12 Apr 2009 22:49:07 +0000

Not illegal at all. The company / bank reserves the right to terminate any of its employees’ existing contracts and issue new ones with edited / added legal verbage. I’d look for a golden handshake and settle amicably.

Look on the bright side; there are banks, investment firms and credit rating agencies still hiring voraciously. Gulf Bank is re-structuring and hardcore poaching is on~!