Johannesburg - The finance trade union Sasbo,
which represents the majority of Absa Group [JSE:ASA]
employees, said on Monday that
the bank has agreed to withdraw the notices of retrenchment issued to IT
"At an urgent meeting between Sasbo and Absa, held on Saturday
evening, the union expressed its outrage at the bank having
unilaterally issued retrenchment notices to IT staff via email.
union placed the bank on terms and demanded that Absa withdraw all
retrenchment letters by 12:00 on Monday, 14 May 2012.
"In a letter to Sasbo, the bank advised that it would withdraw
the notices of retrenchment sent to IT staff today," said Comfort Duma,
Sasbo's assistant general secretary.
"The bank has agreed to engage further with the union on this matter," Duma said.