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The 70 000 strong finance union, Sasbo who represents about 20 000 members in ABSA Bank Ltd alone has sworn to fight against any possible job losses in ABSA should the current restructure in the bank’s Retail Business Bank and IT divisions result in retrenchments. The Bank argued that the proposed restructuring exercise is intended to consolidate the strategic functions in the new Retail Business Bank unit and IT and this will affect almost 2500 employees.



At no time during the consultations did the Bank mention retrenchments, and the Bank made a commitment that should there be any retrenchments they will consult with us, says Comfort Duma, assistant general secretary of Sasbo. The Union believes that this restructuring process will adequately be addressed through the process of natural attrition and a three months reassignment period to allow affected employees an opportunity to apply for and be placed in vacant positions.



The Union is of the opinion that Barclays is placing a lot of pressure on ABSA to cut costs in order to grow the bank’s revenue. This is being done at the expense of the employees, says Duma. Sasbo does not agree with retrenchments - one job lost is one too many and we will place pressure on the bank to seriously find alternative positions for the affected employees. The union will do everything in its power to defend its member’s jobs.