Mumbai: Employee unions of ING Vysya Bank on Sunday demanded safeguarding of their interests post-merger with Kotak Bank and threatened to go on strike on January 7 the day on which the Bengaluru-headquartered lender will seek shareholders’ nod to approve the Rs15,000-crore merger deal.
To ensure that interests of all the stakeholders are ‘protected’, S.A. Sridhar from the ING Vysya Bank officers’ association said a “tripartite agreement” between Kotak Mahindra Bank (KMB), ING Vysya Bank, and employees and officers, be signed which will lay out all points in detail. The All India ING Vysya Bank Employees Union and All India ING Vysya Bank Officers Association, which together represent 35 per cent of the company’s over 10,000 employees as members, said they are not opposing the merger but want their interests to be protected.
“We have an apprehension as the new management at KMB does not have an Union and believes in outsourcing its work. What will be the fate of our employees?”said R. Reddy, GS, employees union.
