Share

Standard Bank denies retrenchments

Johannesburg - Standard Bank Group [JSE:SBK] has denied planning to retrench hundreds of workers from its information technology division.

"Standard Bank has no immediate intention to retrench any of its IT employees, be they permanent or contract employees," spokesperson Ross Linstrom said on Thursday.

Trade union Solidarity earlier asked the bank in a news statement to "lay its cards on the table" regarding retrenchment rumours.

Spokesperson Johan Kruger said union members employed by the bank believed retrenchments were imminent.

"According to our members, several contractors' contracts will not be renewed and section 189 notices are being prepared for permanent employees."

Staff believed the bank would outsource a large portion of its IT services to India, he said.

Solidarity appealed to Standard Bank to be open from the outset if it was planning to retrench workers.

Linstrom said while there were no immediate plans to outsource IT operations, the bank might review this at a later stage.

"While Standard Bank takes its responsibility to develop and nurture IT skills seriously, the nature and structure of our IT departments will be reviewed as markets and competition changes.

"This we consider to be a prudent part of operating a business and remaining competitive."

*Follow Fin24 on Twitter, Facebook, Google+ and Pinterest.
We live in a world where facts and fiction get blurred
Who we choose to trust can have a profound impact on our lives. Join thousands of devoted South Africans who look to News24 to bring them news they can trust every day. As we celebrate 25 years, become a News24 subscriber as we strive to keep you informed, inspired and empowered.
Join News24 today
heading
description
username
Show Comments ()
Rand - Dollar
18.88
+0.3%
Rand - Pound
23.85
+0.2%
Rand - Euro
20.38
+0.2%
Rand - Aus dollar
12.32
+0.1%
Rand - Yen
0.12
+0.2%
Platinum
908.05
0.0%
Palladium
1,014.94
0.0%
Gold
2,232.75
-0.0%
Silver
24.95
-0.1%
Brent Crude
87.00
+1.8%
Top 40
68,346
0.0%
All Share
74,536
0.0%
Resource 10
57,251
0.0%
Industrial 25
103,936
0.0%
Financial 15
16,502
0.0%
All JSE data delayed by at least 15 minutes Iress logo
Company Snapshot
Editorial feedback and complaints

Contact the public editor with feedback for our journalists, complaints, queries or suggestions about articles on News24.

LEARN MORE
Government tenders

Find public sector tender opportunities in South Africa here.

Government tenders
This portal provides access to information on all tenders made by all public sector organisations in all spheres of government.
Browse tenders