Employment Tribunal Rules in Favour of Nomura International.
In a recent case filed against the bank by two women ex- employees, Employment Tribunal has ruled in favour of Japanese bank Nomura International.
Ms. Anna Francis and Ms. Maureen Murphy , both employees who were given the pink slip by the bank in Jan 2009 and March 2009 respectively, had filed separate cases with the Employment Tribunal, seeking reinstatement and a compensation of £ 1.5m each in lieu of sexual harassment and racial discrimination.
Nomura International, which had taken over part of Lehman Brothers, had retrenched both women as part of their restructuring exercise. The bank had conducted a fair evaluation of the job and functional criteria and non-value addition jobs were done away with. With the performance appraisal of the employees based on the criteria setup, many were retrenched.
While Ms. Anna Francis is a New Zealander who also holds a
Nomura International spokesperson commented that the bank was satisfied by the judgment passed by the Tribunal and treated the matter as closed. There is no information on whether the women will appeal in higher courts.
The Chartered Institute of Personnel and Development (CIPD) is the professional body for those involved in the management and development of people. Training for a CIPD qualification will assist organisations in gaining a grasp of employment law to be able to set their own organisation’s policies and procedures in context and understand how to implement best practice in recruitment and selection.
