JUDGMENT OF THE COURT
In a goodwill end of year message to all staff of Barclays Bank of Kenya (“the appellant” or “the bank”) dated 24th December, 2010 its Managing Director for East and West Africa reviewed the bank’s operations for the year but informed staff that there was need for cost cutting. This is how that information was captured:
“Restructuring
You may have noticed, during 2010, increased pressure on margins for us to remain competitive. We must become a much more efficient organization, with smarter processes, increased levels of productivity and reduced overlaps between functions.
In order to achieve this, we have embarked on a bank wide cost review exercise, led by Joseph Muremwa, reviewing all key cost items in the bank, including staff costs. This process is ongoing and its early to share its full impact on people at this stage. However, it is aimed to focus on management level jobs and expected headcount reduction is likely to be small in the context of our overall head…