Standard Bank SA will also implement an exit package to assist affected employees.
Standard Bank will be closing ninety-one branches this year, and one thousand two hundred jobs could be lost as a result.
Courtesywill be closing 91 branches this year and 1200 jobs could be lost as a result.It also highlighted it will set aside funding to assist employees to acquire new skills to improve their competitiveness in the labour market.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
No evidence yet that Standard Bank was linked to Troika scandal, bank saysStandard Bank agreed to sell Troika to Sberbank in 2011 in a $1bn deal as part of a strategy switch to focus only on Africa and exit emerging markets
Read more »
Question marks over future of SA banking after Standard Bank job cuts bombshellLabour economist Andrew Levy says the impact of technology on banks and a change in the fundamental business structure has now led to jobs being lost.
Read more »
Standard Bank to cut around 1,200 jobs, close 91 branches in SAJob cuts are sensitive in SA, where unemployment stands at 27%, and the bank’s announcement comes on the back of plans to cut 526 jobs announced in November.
Read more »
Standard Bank to cut 1,200 jobs and close 91 branchesStandard Bank will cut around 1,200 jobs and close 91 branches as part of efforts to digitise its retail and business bank, it said on Thursday.
Read more »
Standard Bank cut ties with Gupta companies after spotting dodgy transactions, inquiry toldStandard Bank flagged millions of rands in suspicious transactions between between Transnet and the Gupta-linked Regiments Capital in 2014 - which ultimately led to the bank cutting ties with businesses related to the controversial family two years later.
Read more »
Standard Bank bets its growth can outpace Africa’s fastest economiesStagnant GDP in SA means the bank has to rely on its business in 20 other Sub-Saharan countries, but says its network is ‘beyond compare’
Read more »
Standard Bank to chop 1,200 jobsCommercial bank Standard Bank will cut around 1,200 jobs and close 91 branches as part of efforts to digitise its retail and business bank, it said on Thursday. South Africa’s commercial banks lenders, like others around the world, have been shuttering branches and trimming their headcount in an attempt to cut costs and adapt to customers’ growing preference to bank online or on their mobile phones.
Read more »