Business Report writes that the Absa group has refuted reports that the restructuring in its SA retail and business banking unit will lead to job losses in the future.  

Last week it was reported that about 827 jobs would be at risk if the restructuring of the group went ahead.  However, Absa pointed out on Monday that in April 2018 it had announced a new group operating model that would seek to align the organisation with its new corporate strategy.  “We also stated that each business and enabling function would undergo individual structural reviews in order to enable delivery against the strategy.  This process is underway, and involves both new opportunities and redundancies across the business.  It is only once the realignment is complete that the total number of people who have either been appointed to new roles or have left the organisation will be known with certainty,” the group stated.

• Read the full original of Sandile Mchunu’s report on this story at Business Report

Get other news reports at the SA Labour News home page