Barclays Bank To ‘Help Out’ Employees With 3 Months’ Salary In Case of Job Loss

If you are customer with Barclays Bank and you happen to lose your job, the bank will offer you three months salary under a new insurance policy.

The cover which will be provided by Barclays, Pan Africa Life and MicroEnsure is in effort to support those who get retrenched and have an account with the bank.

“Cases of retrenched employees left struggling to make ends meet as they seek alternative sources of income are common,” Barclays Bank Consumer Director Zahid Mustafa is quoted by Daily Nation adding that, “The salary retrenchment cover is therefore meant to ensure that the family needs are met even as the bread winner seeks alternative income generating opportunities.”

However, those who have voluntarily resigned, accepted retrenchment or with lapsed contracts, retirees and those who get dismissed due to fraud, dishonesty or any illegal conducts do not fall under the policy plan.

Speaking to Juma Kioni a sales manager with a cosmetics company in Westlands, he feels that the move by the bank couldn’t come at a better time.

“ I do not bank with Barclays but opening an account with them is something I am looking forward to.” He adds that with the increased level of retrenchment cases, he would feel more secure with  Barclays than with the bank where his salary is currently processed.

What’s your take on Barclays move to come to employee’s aid?

Dont Miss any Job Or Article Subscribe to Career Point Kenya by Email FOR FREE CLICK HERE