Digitalisation will see severe job losses for Standard Bank employees

Thousands of Standard Bank employees are sitting with a sword over their heads, waiting to hear whether they will still have a job or not.

This comes after the announcement that, as a result of the digitalization of the banking world, the bank will be closing branches and implement job cuts.
With 91 branches expected to close, a rough figure of 1200 employees will lose their source of income.

Standard Bank announced in a media statement, that they are aware of the sensitivity surrounding unemployment in South Africa and promised a “comprehensive exit package that exceeds legal requirements”.

After a media enquiry was made by, Mr Ross Linstrom from Standard Bank was hesitant to divulge any more information.

He explained that the bank is still in consultation with the staff and their landlords and that no more information will be handed out until the people being directly affected, have been informed.

Mr Linstrom could also not provide a date as to when the public will be informed on which branches will be affected.





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