Standard Bank to close 91 branches, thousands of jobs on the line | IOL Business Report

According to a statement issued by Standard Bank, a total of 91 branches will be closed as the bank decided to opt for a digital banking offering for consumers. "These changes will impact approximately 1200 jobs. However the actual number of employees who will ultimately exit the employ of Standard Bank SA could be lower, as new opportunities will become available in the new operating model," the bank said.

— HomeAffairsSA March 14, 2019 "We have also set aside funds to assist employees acquire new skills to improve their competitiveness in the labour market, as well as entrepreneurial training and financial assistance. This has not been an easy decision to make. We recognise that this is a very stressful time for everyone," the statement concluded.

These companies turning to technology don’t even take the cost of services down for the consumers but the consumers do the work with these self service features..it’s like we pay them to work for them now

PresJGZuma what happened to the 5 million jobs that you promised?

The digital footprint is going to be felt everywhere.

Standard bank just build a massive building in Rosebank let them fit in all those from branches in there and create jobs

But can still sponsor sport shocking

Digital banking is here, sooner we'll be free of expensive bank charges,this is a signal.

That's anc looting for you

Can’t depend on a “JOB” anymore!

Sign of things to come!!! We are headed down a very slippery slope!!

DollSupremacy Yho

All in the name of profit

Mtamerri If they give them head starts then, I guess not all is lost. Shucks..

The country is heading down the path of Venezuela, those that have the means should leave now, there is no hope for this Shithole, MYANC completely destroyed this country.

I am a Standard Bank client of many years. I am so upset that branches are closing and jobs are being lost. I care more about people, families who will suffer despite your efforts to prepare them for other fields of employment. This is a deal breaker for me.

Competition and high bank charges won't help the situation either.

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