The Joint Trade Union Movement (JTUM) says the bank’s move comes after it has declared hundreds of millions in profit already for the current financial year and claimed to have received awards for “Bank of the Year”.
The trade union body is questioning the corporate social responsibility of the Canadian multinational bank. It underscores that with the declaration of large profits, the bank must justify to the Ministry of Labour the sudden need to restructure under the guise of “digitalisation”.
JTUM is concerned that Scotiabank plans to outsource jobs and some of its back-room services to the Dominican Republic which they say is known for the use of “cheap labour” and the exploitation of workers. The Union notes this action is untimely as it will affect their workers, some of whom are single parents and the sole breadwinners, their families while facing increased food and other commodity prices.
JTUM is calling upon Scotiabank to immediately rescind this decision and to meet with the workers and their representatives to explore alternative solutions.
They are also calling on the Minister of Labour, Stephen Mc Clashie to act to avert what the union calls an impending crisis.