Major banks deny finance union’s claims of jobs ‘bloodbath’

SA’s major banks have poured cold water on a claim by finance union Sasbo that more than 10,000 people will soon be joining the ranks of the unemployed when the banking sector scraps thousands of posts.

On Friday, Sasbo general secretary Joe Kokela claimed Standard Bank was planning to retrench up to 6,000 people and competitors Nedbank and Absa 3,000 and 878 jobs respectively, due to the effect of the fourth industrial revolution.A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, Morningstar financial data, and digital access to the Sunday Times and Times Select.

Don’t know why this union calls a bloodshower a bloodbath 😡😡😡😡

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