Application supported by Banking Association of South Africa
Business Unity South Africa (BUSA), has denied allegations that thousands of workers in the banking sector will face retrenchment, as financial institutions attempt to halt a bank strike which promised to cripple the South African cash flow. Business Unity filed a court application with support from the Banking Association of South Africa (BASA), which intends to stop a strike action that has the propensity to endanger the country’s banking services. According to officials from the industry, out of the 91 branches that have been closed, it is only a minor sum of 26 people were dropped. On the other hand, Netbank says it has lost just 19 people in the whole year. The affected individuals were however, encouraged to build themselves in new skills other than the banking sector due to the rapid growth of technology in the industry.