Syndicate Bank withdraws 'no work, no pay' missive

This happened after UCO Bank's Kolkata office refused to pay employees for non-performance

Syndicate Bank has ordered the withdrawal of its “no work, no pay” notice. “This (notice issuance) was done at the regional level. It is not within the powers of the official concerned to issue such a communication. It has been withdrawn,” M Rego, managing director and chief executive officer of the bank, told Business Standard.

This comes after the UCO Bank’s zonal office in Kolkata decided not to give salaries to its employees in that zone for non-performance. The decision was reversed after the top management stepped in, following pressure from unions last week. 

One regional manager of Syndicate Bank said in