By Lelethu Mquqo
23 October 2010
The finance union Sasbo, which represents over 15 000 employees of Standard Bank, says it is shocked that the bank wants to retrench more than 1 200 of its workers.
This is around four-percent of the bank’s workforce in South Africa.
Sasbo criticizes the fact that Standard Bank is placing profits before employees’ job security and livelihoods while it remains a highly profitable institution.
The union says it will leave no stone unturned to protect its members who now face an uncertain future.
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