Massive job losses in the banking sector are bringing finance workers’ union Sasbo and the Banking Association of SA toe-to-toe as the former prepares to protest against staff-trimming by banks and the latter seeks to stop labour action through a court interdict.
Sasbo general secretary Joe Kokela says that job shedding in the banking sector has so far this year resulted in widespread impoverishment of sacked employees.
Figures he quoted served to prove his point.
The closure of 91 Standard Bank branches alone resulted in 1 800 retrenchments.
An additional 800 workers have been affected by restructuring at Absa and at Nedbank, where some 1 500 staffers been let go, more employees face being laid off, Kokela adds.
‘We are facing a socio-economic crisis,” he said, stressing that by year’s end as many as 10 000 banking staff could be out of a job if the banking sector continues to cut costs by cutting their staff complements.
The planned strike action, which Sasbo says is protected under the Labour Relations Act, will affect banking operations on a significant scale, resulting in disrupted services that will affect ATM operations, online banking, and possibly walk-in services.
Sasbo accuses the Banking Association of not recognising it in its wage negotiations but the latter says it is the former that is inconsistent in its treatment of market-related pressures on the banking sector.
Earlier today, as the Banking Association awaited to hear about the interdict application, their representative, Cas Coovadia, said they were keenly awaiting word from the high court as it was felt that labour disruption to banking operations would not remedy job losses in the sector.
