FNB to close 34 branches, says union
First National Bank (FNB) employees in the Northern Cape and Free State are faced with retrenchment as the bank intends closing down 34 of its branches, Sasbo, the finance union, reported on Friday.
The union said it has engaged in consultations with the bank to explore alternatives to the possible retrenchment of employees.
FNB has informed the union that it intends closing smaller, non-profitable branches in the two regions.
“The union believes that this decision is ill-advised in light of the latest leading indicators pointing towards a recovery in the broader economy,” Sasbo said.
“We will leave no stone unturned to prevent job losses. Unemployment is one of the major problems within the South African economy and contributes to the dampening of the economic recovery,” says Vanessa Hattingh, assistant general secretary of Sasbo.—I-Net Bridge