The strike which the union has been anticipating for the past two weeks will affect consumers this week.
The South African Society of Bank Officials has provided details on their planned nationwide strike action this Friday. Around 40 000 members are expected to take part in the strike against the retrenchment of workers and digitization of banking systems. SASBO’s General Secretary, Joe Kokela, says the union will ensure that ATM’s and banking operations are not functional. In Gauteng, it will start at Cosatu House down to the bank city where the memorandum will be handed over. In Durban, they will go to the City Hall.Kokela says their application to strike has been approved by the National Economic Development and Labour Council , therefore members who participate in the strike will be protected.
Managing Director of the Banking Association of South Africa , Cas Coovadia, says the current retrenchments in the banking sector are because there is no growth in the economy.He says the current lack of policy certainty erodes the confidence needed for investment which could lead to business growth and greater employment.
“I think retrenchments whether in the banking sector or elsewhere are essentially happening because there is no business growth, and businesses are restructuring just to remain efficient both in their employment area, in their capital area just to remain afloat and keep their heads above water. So the issues is that we’ve got to address what is the problem and the problem is that we are no creating an environment for investment and for business growth.
Thanks not anymore
People are withdrawing a lot of money because of this strike, 😠.
Lol they wait for people to be retrenched then strike lol wow very proactive 😂
South African Bank's Unions would never go on a full scale industrial strike, the least they can do is picketing during lunch time or on weekends. This is because the unions there have been created by the Banking institutions themselves. They will call it off soon. BankStrike
M_Letsholonyane We'll be there to support them