Banking union to fight retrenchment in SA’s banking sector

SABC News Banks SA - Banking union to fight retrenchment in SA’s banking sector

Standard Bank, Absa and Nedbank are planning on cutting jobs in 2019. This is according to banking union, Sasbo which says it’s against the cuts and plans on striking in October.

According to Sasbo 3000 jobs are under threat at Nedbank.

Secretary General Joe Kokela says, “Look, let me start by saying that it’s not only Nedbank. In fact, this is happening with almost three banks; Standard Bank has affected 1800 people and Absa was talking about 878 people and Nedbank has just approached us, and it is talking in terms of 3000 people. So, that’s where we’re at with the three banks for now.”

But the bank denies this saying it is factually incorrect that they plan on any job cuts.

It says it’s been in consultation with employees and their respective unions around saving jobs.

Meanwhile, Sasbo is threatening to go on strike. The union is in talks regarding getting sympathy support from Cosatu and its affiliates

 

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