Banking strike off for now

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.