Banking News South Africa

Subscribe

Elections 2024

The 2024 Elections Broken Down with Mike Sham

The 2024 Elections Broken Down with Mike Sham

Advertise your job ad
    Search jobs

    Banking strike off for now

    The banking sector strike scheduled for tomorrow (27 September 2019) has been called off after the Labour Court interdicted it as unlawful.
    Image source: Getty/Gallo
    Image source: Getty/Gallo

    Cosatu and banking union Sasbo said that over 40,000 finance sector employees were ready to protest the job losses associated with digitisalisation in the sector

    The two organisations say banks were unilaterally laying off employees instead of upskilling them so that they could remain relevant in the fourth industrial revolution.

    Friday's planned shutdown relied on a Nedlac-approved notice that was issued two years ago.

    Business Unity South Africa (Busa) brought the interdict against the trade unions, saying they have not negotiated with the banks before embarking on the strike."Any blows to the economy is bad for everyone, so what we'd like to see is that whatever happens with the case, is that we're still committed to all work together at Nedlac as social partners," says Kaizer Moyane, Business Unity South Africa (Busa).

    Unions will be urgently appealing the judgment and simultaneously approaching Nedlac for negotiations. The unions have encouraged their member to go to work on Friday and prepare for mobilisation in October.

    Let's do Biz