ICICI Bank, one of India’s leading private sector banks, is embroiled in a major controversy after recent reports said it had unfairly terminated several employees.
In response, these employees filed a case against ICICI Bank, demanding a thorough investigation into the matter.
Adding to the bank’s woes, the labour commissioner has summoned ICICI Bank Managing Director and CEO Sandeep Bakshi for a meeting scheduled for June 28, 2024.
The Labour Commission has received numerous emails alleging that ICICI Bank has illegally terminated employees without giving sufficient prior notice. It is further alleged that the bank continues to ignore established procedures and policies in this regard.
The meeting between the labour commissioner and ICICI Bank executives promises to clarify the allegations and decide on appropriate action. As the controversy unfolds, all eyes are on ICICI Bank as the outcome of the investigation could have far-reaching implications on the bank’s reputation and standing in the industry.
Employees have taken to social media platforms to air their grievances over unethical practices at the bank. Reports say several employees, including women, have been fired without adequate notice or just cause.
The employees, who shared screenshots of the emails, allege that the bank has ignored their pleas and complaints and callously removed them from their jobs. They further allege that the bank’s HR department has exerted considerable pressure on the employees, forcing them to resign against their will.
This sudden layoff has caused great hardship to the employees, including financial difficulties, inability to meet basic needs, repaying loans, dealing with medical emergencies, paying for their children’s school fees, caring for aging parents, etc. Despite efforts to reach out to the HR department for appropriate action, emails and phone calls went unanswered.
Sadly, one employee in Uttar Pradesh committed suicide. Employees report experiencing exploitation, humiliation and an inappropriate work environment as biased senior staff constantly demotivate and belittle junior employees.
