Absa denies plans to fire 3 000 workers

Absa on Thursday denied claims that it was firing 3 000 staff members.

“Absa confirms that there is no mass retrenchment being undertaken within the company,” spokesperson Ajith Bridgraj said in a statement.

“Absa has and will continue to evolve its systems and processes which sometimes lead to very limited job losses … We will do this through natural attrition as evidenced by the reduction of 3 580 roles last year with retrenchments limited to 145.”

Bridgraj said Absa’s official union, the Finance Union, was consulted during the process and the company followed the agreed principles and processes which were in line with labour relations best practice and regulations.

On Wednesday, trade union Solidarity said some of Absa’s employees were called into an office and told there was no room for them in the company’s new structure.

“They were given a box, accompanied to their office to pack up their personal belongings and escorted outside like criminals in full view of their colleagues, some of whom were in tears, where their employee cards were taken from them,” Solidarity said on its website.

Responding to this statement, Absa said while the process was not pleasant the company needed to protect its systems and sensitive information.

“Due to the sensitivity of the situation and the fact that employees had to hand in their access cards, some were escorted out of the building,” the company said.

The union released a video as part of its “Stop Absa campaign”, aimed at determining the scope of the current retrenchments at the bank.

“It is clear from their stories that Absa’s restructuring is coinciding with retrenchments and that the bank attaches no value to years of service and outstanding performance,” the union’s deputy general secretary Dirk Hermann said.

“The reality is that the bank, which used to be known as the ‘people’s bank’, is now a bank which is cold and indifferent towards its employees and pursues profit at all costs.” — Sapa

Staff Reporter
Guest Author

Hlophe complaint is an eerie echo

But the new complaint against the Western Cape judge president is also unprecedented

Mabuza contract grows by R10m

Eskom’s negotiators in a R100-million maintenance contract came back with a proposal to push up the costs

‘There were no marks on his neck’, Neil Aggett inquest...

The trade unionist’s partner at the time he was detained at John Vorster Square says she now believes his death was not a suicide

Press Releases

Boosting safety for cargo and drivers

The use of a telematics system for fleet vehicles has proved to be an important tool in helping to drive down costs and improve efficiency, says MiX Telematics Africa.

Silencing the guns and firearms amnesty

Silencing the guns and firearms amnesty

Gender-based violence is an affront to our humanity

Gender-based violence is an affront to our humanity

UK-Africa investment summit 2020: Think Africa Invest SA

UK-Africa investment summit 2020: Think Africa Invest SA

MTN unveils TikTok bundles

Customised MTN TikTok data bundles are available to all prepaid customers on *136*2#.

Marketers need to reinvent themselves

Marketing is an exciting discipline, offering the perfect fit for individuals who are equally interested in business, human dynamics and strategic thinking. But the...

Upskill yourself to land your dream job in 2020

If you received admission to an IIE Higher Certificate qualification, once you have graduated, you can articulate to an IIE Diploma and then IIE Bachelor's degree at IIE Rosebank College.

South Africans unsure of what to expect in 2020

Almost half (49%) of South Africans, 15 years and older, agree or strongly agree that they view 2020 with optimism.