Standard Bank last week announced that they will be retrenching about 1 200 staff and closing 91 of their branches – this is on the back of increasing digital banking usage among the banked population.
How can we better make sense of these the driving forces behind the growth in retrenchments that we see in the market? And thirdly, the economy is structurally constrained from absorbing and continuing the retain the labour force based on current skills composition.Oftentimes it appears that the fourth industrial revolution is viewed similarly to the Y2K and its 'apocalypse' frenzy.
Engineering is one of the critical skills required if we are to meaningfully and competitively participate in a global marketplace. To illustrate the labour challenge facing the country, the department of labour found that SA only has one engineer for every 2 114 citizens. If the growth agenda suggests that agriculture, for example, will in future be a massive contributor to the GDP, the agri-colleges would need to be front and centre of the education and curriculum strategy. As it stands,It also holds unambiguously true that the local economy is creating jobs for the labour force it wishes it had, not for the labour force it currently has.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Question marks over future of SA banking after Standard Bank job cuts bombshellLabour economist Andrew Levy says the impact of technology on banks and a change in the fundamental business structure has now led to jobs being lost.
Source: ewnupdates - 🏆 30. / 53 Read more »
Standard Bank's branch closures: The most radical single action by a SA bank in decadesStandard Bank's branch closures: The most radical single action by a SA bank in decades | brucebusiness brucebusiness. They to expensive. Bankcost. Thymbank Capitec better. brucebusiness People losing jobs on a grand scale ....,, brucebusiness ...the majority of these branches are probably in rural areas, small towns, where most people do not do phone/internet banking, and must now travel quite far to do their banking in a bigger town?
Source: News24 - 🏆 4. / 80 Read more »
Standard Bank to cut around 1,200 jobs, close 91 branches in SAJob cuts are sensitive in SA, where unemployment stands at 27%, and the bank’s announcement comes on the back of plans to cut 526 jobs announced in November. That's awful 😑 New Dawn
Source: ewnupdates - 🏆 30. / 53 Read more »
Why Standard Bank plans to take an axe to its branch networkThe bank intends to close 91 branches before the end of June, putting about 1,200 jobs at risk
Source: BDliveSA - 🏆 12. / 63 Read more »
Inquiry hears why Standard Bank cut ties with McKinsey, Regiments | IOL NewsThe inquiry has heard how the Gupta's Oakbay Resources requested that trust money, set aside for mine rehabilitation, be ...
Source: IOL - 🏆 46. / 51 Read more »
1 200 jobs affected as Standard Bank closes 91 branchesApproximately 1 200 jobs at Standard Bank will be impacted as the financial services provider embarks on a new banking delivery model. Fin24 4th Industrial revolution is here. ANC and EFF are still preparing for the first one... Fin24 I thought the CYRIL Ramaphosa was gna help the situation as he is so called business man Fin24
Source: News24 - 🏆 4. / 80 Read more »
Standard Bank to close 91 branches, thousands of jobs on the line | IOL Business ReportSouth Africa's Standard Bank today announced that about 1200 jobs will be on the line after it decided to close 91 of their branches. Competition and high bank charges won't help the situation either. I am a Standard Bank client of many years. I am so upset that branches are closing and jobs are being lost. I care more about people, families who will suffer despite your efforts to prepare them for other fields of employment. This is a deal breaker for me. The country is heading down the path of Venezuela, those that have the means should leave now, there is no hope for this Shithole, MYANC completely destroyed this country.
Source: IOL - 🏆 46. / 51 Read more »
Standard Bank to cut thousands of jobsStandard Bank SA will also implement an exit package to assist affected employees. Lord. Only the beginning. Another economic turmoil underway
Source: eNCA - 🏆 49. / 51 Read more »
Standard Bank to cut 1,200 jobs and close 91 branchesThe South African lender's announcement comes on the back of plans to cut 526 jobs announced in November Having been retrenched I don't wish this on anyone 😢😢😢 That's what happens when you're too arrogant to bother listening to custor Results of technological innovation! ATMs took over tellers jobs
Source: BDliveSA - 🏆 12. / 63 Read more »