Standard Bank to cut 1200 jobs, close 91 branches for digitisation - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.

Standard Bank says it will provide a comprehensive exit package for employees.

Standard Bank has announced its plans to cut up to 1 200 jobs and close 91 branches as part of efforts to digitise its retail and business bank. Last November, the bank cut more than 500 jobs.Standard Bank says it will provide a comprehensive exit package for employees. Finance union, the South African Society of Bank Officials’ Eugene Ebersohn, says robotics and digitisation are the core reasons for possible job losses at the bank.

“If people are going to leave on a voluntary basis it will create opportunities for people who can’t leave, or people who are surplus – so in about 5-6 weeks from now, once the applications have been received by the bank by people who want to leave voluntarily, then we will be able to see the net effect of people who might face forced retrenchments. There will be opportunities for people as there will be a staff turnover as people leave the bank in other areas.

This is the 4th undustrial revolution, we need to be prepared

Allienation🤔

The is one in Khayelitsha Mall is no longer working fast..you spend 1 or 2 hour's there..they just do up n down there with coffee cups.

Then as citizens we cut off their accounts

Technology is taking over but our people are yet to suffer more. The rich shall stay rich, as much as the poor remain poor. Ho thata maAfrika

Gosh, and you ask yourself if you are number 1199 😟😟

If they digitise, this is a direct measure to improve profits while relinquishing themselves from the wage costs scenario..another measure to ensure that the rich stay rich and the poor, well, to hell with them

That is bad news for a country like South Africa whose workforce is not highly skilled and can't adapt easily let alone finding jobs elsewhere.

4th Indusrial revolution

We’ll only vote for the party that will ensure that all those who are about to lose their jobs, they are reinstated in elsewhere, coz we can’t be voting for more job opportunities while others are loosing their jobs.

moer🤦‍♂️

gretchen_ndou Technology taking over

South Africa 🇿🇦 is doomed 😏😏

Unemployment increase every. 🙅🙆 Mathata a South Africa ga fele. 😔👎

Its not surprising. Standard bank has no precise strategic plan. Staff who work in the banking retailer thinks they are going customers a favor. Bad customer services which resulted in less customers n the introduction of new technologies

tito_mboweni good morning.

mathata. the other banks will do the same mos. go thaaaata mos. ga go siame sepe.

This is the 4th Industrial Revolution! If you don't align your skills to tech you will be left out. 😢

STD BANK gives the worse service.

Unfortunately more banks to follow as more peopleb use apps and online banking 🤦🏾‍♂️

The biggest untouchable gangsters in SA are the banks

Looks like the banks are on retrenchment mode; even Absa recently announced that some jobs will be shed, that's too bad for our economy

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