Habib Bank Undergoes Massive Round of Layoffs

Habib Bank Limited has laid off as many as 180 employees in a single go, we have confirmed with sources.

According to details some 180 HBL employees were served with forced retirement and job termination letters late Friday.

If sources are to be believed, another 2,000 employees are on the list to get fired from their positions.

This down-sizing is mainly due to bank’s recent shift in strategy that is now more focused towards cost cutting.

Sources at HBL said that this cost-cutting drive came into play after the bank paid hefty penalty to American regulator.

“HBL management started terminating employees late Friday and some 180 employees were called in with choices to either sign an early retirement or face job terminations”, told ProPakistani a source.

Source said that majority of these employees were in 45-52 age group.

Naveed Asghar, Director Marketing and Spokesperson of HBL confirmed ProPakistan about the removal of employees. “There are many numbers circulating but a total of 144 employees are given early retirement with their benefits according to rule book. Decision is based on bank’s policy.” Asghar added.

After the development, some 150 employees of Habib Bank — representing different employees’ unions — protested outside the press club in Karachi. Protesters were holding the banners with slogans against the current management.

They demanded Prime Minister of Pakistan, Chief Justice of Pakistan, Governor State Bank of Pakistan and Prince Karim Aga Kahn to intervene and help employees save their jobs.

One of the Protesters’ leader told ProPakistani on the condition of anonymity that a group has been formed with the name “Fight for Rights” to protest against sacking of employees.

Protesters said that bank faced heavy penalties and instead of fixing the responsibility — by nabbing those who were allegedly involved in money laundering — bank is now firing the hard working employees in Pakistan.

“The management of HBL is corrupt and the bank lost millions of dollars due to money laundering in America”, protesters said.

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  • Jitna bura ye bank walay treat kartay hain apnay account holders ko,

    Ye samaghtay hain kay hameesha apni post aur job par rahein gaay.

    Bahut acha hua enki jobs gayeein ab karain talash naye jobs aur ego dekhain ab public ko.

    Wapis tou lout kar public mai he aay na. Maghroor log !

    • Shamil ne ha balky unhey key liya to money launder ke gae the aur ye unhe sa insaf mang rahy ha. lol

  • As far as I know the bank management and all those involved are on their way out.

    This is an additional cleanup of the massive number of other employees that they find they do not now need. This is not a government idaara and sadly they can decide whomever they want to fire if they don’t need them.
    The banking industry after emerging from nationalisation has had a lot of old sarkari employees also and if they haven’t changed their mode of working and thinking they will probably be let go. Protest all they way but better use of their time would be to upgrade their skills or apply to move elsewhere

  • HBL CEO Noman Dar should be sacked immediately for HBL’s involvement in money-laundering and imposition of huge fine by America that has created mess, defamed Pakistan and led to massive lay-offs in HBL.

    • Get your facts straight. This is an inane comment. I don’t think Nauman Dar should stay but he is not involved in money laundering. Neither is the bank itself. There was a Saudi bank that was suspected but HBL was a corresponding bank to clear the dollars in NY. That Saudi bank has now moved to a US bank directly and fixed its own internal systems also.

      • Why HBL has paid billions in fines to America? Mr unknown Fadim, please search it on Google, it will open your eyes

    • Hi, I am a reporter working on a story about human resources in the banking industry – is there a way to contact you privately? Thanks!

      • This letter is not mine. I’ve got it because I am working in banking industry.

  • 150-180 is not massive. Telenor did more than that’s in a day. Wateen did 700 in a day.

    What will be massive is the 2000 to come soon.

    • It appears that in the first round they have targeted high paid employee’s. Thus they impacted the most on their P&L accounts. 2nd round will be on the number of employee’s.

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