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Here goes to more unemployment #Countryisfinished

Cyst

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This was only a matter of time.
All the banks are heavily investing in digitizing their offerings. People don't like to stand in a queue if they don't have to.

Especially with the new banks popping up that don't offer any branch facilities at all, only digital.

And of course we've had bank/s without branches for a while now.
 

nagapie

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This was only a matter of time.
All the banks are heavily investing in digitizing their offerings. People don't like to stand in a queue if they don't have to.

Especially with the new banks popping up that don't offer any branch facilities at all, only digital.

And of course we've had bank/s without branches for a while now.
Also to cut costs for customers they have to cut their overhead.

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Cyst

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If they can't find jobs again, the tax payers will pay. Also UIF.

I can only hope that those branches will not stand empty but be converted into shops or whatnot that would employ people again. Maybe not the same people, but hopefully the same amount of people that got retrenched, if not more.
 

Spectaitor

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Standard Bank does stuff like this every 18 months, they re evaluate all the managing staff, make them basically reapply for their jobs and prove they are still fit. They call it a restructure. Even though they cut a lot of jobs I believe they have a total of 55 000 people and after cutting the jobs they end up creating new posts so a fair amount of those jobs are replaced.
 

thePridge

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Fair enough points but who is going to feed the 1200 or so and their families once they exit the door >?
Not saying this doesn't suck... but the sensationalist title got you

“These changes will impact approximately 1,200 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.”

People (number unclear) are going to be moving to different roles as opposed to being axed. Apparently people have already started getting "lifted and shifted".
 

Ron Burgundy

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Fair enough points but who is going to feed the 1200 or so and their families once they exit the door >?
The banks have to move with the time, if they just employed as many people as they could all banks would be in eskom's position and then you won't only not have electricity but no access to your bank funds as well.

It's also not the banks fault the country has more people than what the economy can support thanks to terrible governance screwing growth with all their corruption.

And like others said, they won't all necersalely be retrenched.
 
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