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Johannesburg - Trade union Solidarity has not yet received any formal notice about planned retrenchments at Standard Bank, a spokesperson said on Wednesday.
"In terms of section 189 of the Labour Relations Act, a company is obliged to consult with trade unions if retrenchments are being considered," Gideon du Plessis, deputy general secretary of Solidarity, said in a statement.
Standard Bank spokesperson Erik Larsen confirmed that Solidarity had not been formally notified.
"It's still early days and we haven't yet identified any affected employees ... if we find that Solidarity members are affected, we will obviously consult with the union as per the requirements of the Labour Relations Act."
The union said in Wednesday's statement that it had sent a letter to the executive directors of Standard Bank, demanding that they "lay their cards on the table" regarding the planned retrenchments.
Larsen confirmed that the union's letter had been received. "We will be responding in due course."
If Standard Bank decided to go ahead with the planned retrenchments, Solidarity would definitely become involved in the process to investigate alternatives to the retrenchments, said Du Plessis.
The trauma of retrenchment not only had far-reaching consequences for employees, but for the employer as well.
"Tension and uncertainty resulting from insufficient information often lead to reduced productivity."