Today's Labour News

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ANN7The Citizen reports that the latest decision by India’s Bank of Baroda to close the accounts of Gupta family-owned companies at the end of August has left employees at the Midrand-based ANN7 broadcaster in a pickle.  

In a meeting held on Tuesday, management allegedly confirmed to employees of the station that the Bank of Baroda had joined SA’s four major banks in announcing its intention to terminate their business accounts by the end of August.  The management apparently asked employees to sign a petition, yet to be drafted, asking the Bank of Baroda to keep the family’s business accounts open for them to be able to transfer their salaries in future.  One disgruntled employee said “all I want is my salary.  It could even be in a brown envelope.  I could not be bothered.  I have financial obligations to meet.”  But Clyde Mervin of the Communication Workers Union (CWU) said:  “That is something that we will never allow.  It is totally against the law and this may open the door for further transgressions, as those salaries have to be cleared by banks for tax and other compliance requirements.”

  • Read this report by Gosebo Mathope in full at The Citizen
  • See too, Bank of Baroda sets deadline to shut Guptas' accounts, at BusinessLive

Get other news reports at the SA Labour News home page