Today's Labour News

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sasboANA reports that financial sector union Sasbo on Wednesday condemned Nedbank for announcing plans to cut 3,000 jobs as a result of robotics.  The union also threatened "serious action plans" if the bank sidelined it in future decisions on staff.  

Nedbank last week said that it could possibly do away with 3,000 employees as a result of software robots, but that the job losses would be offset through the bank’s expected growth.  Nedbank has installed 59 software robots and plans to have 200 in place by the end of the year.  With about 32,000 staff, the bank said its natural attrition rate was about 3,000 per year.  Sasbo, which had previously held long exploratory talks with Nedbank on the impact of digitization and robotics, said in a statement:  "Sasbo is startled and disappointed that Nedbank turned to the media to release a condemning press statement of 3,000 jobs losses thereby causing major disturbances and confusion in the finance sector."  Sasbo has apparently written to the Nedbank chief executive demanding an explanation and challenging the bank to continue talks with the union in good faith.

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