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Retrenched Standard Bank staff can consider farming - Mboweni

Mar 15 2019 17:36
Compiled by Lameez Omarjee

Finance Minister Tito Mboweni tweeted that the 1 200 employees affected at Standard Bank due to a new operating model should consider farming as a fallback.

Mboweni was responding to the bank's announcement on Thursday that it would be closing 91 branches to meet consumer needs.

Standard Bank consumers have increasingly been adopting digital banking products and services, the financial services provider said.

The bank is in a consultation process with employees.

Mboweni's tweet, which has since been deleted read: "On a positive note, retrenched staff should think about this. Just a thought. Breakfast everyday: eggs, bacon, baked beans, bread!! Business opportunities: LET US GO FARMING!!"

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