The Standard Chartered Bank headquarters in Dbayeh. (The Daily Star/Mahmoud Kheir)
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The head of the Association of Bank Employees Monday warned against laying off any staff from newly acquired banks without providing them with adequate compensation.Hajj was reacting to reports that the fates of hundreds of employees at two foreign-owned lenders may be at risk if these banks sell their retail businesses to their Lebanese counterparts.Hajj insisted that the interests and job continuity of the bank employees will not be compromised or subject to negotiations.Hajj refused to treat any terminated bank staff in accordance with article 50 of the Labor Law, adding that the law was unfair and archaic.Hajj admitted that most other banks that had sold their assets to Lebanese banks had received substantial compensation.
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