African Bank to retrench staff

African Bank says the financial pressure faced by its customers means it's recorded a reduction in sales as well as collections. AFP/Wikus de Wet

JOHANNESBURG - African Bank will be retrenching staff.

The bank says the financial pressure faced by its customers means it's recorded a reduction in sales as well as collections.

This has created excess capacity across the different business units. 

Retrenchments also form part of African Bank's move to gradually automate processes across its operations.

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It has now implemented the Omni-channel digital platform to reduce duplication and increase efficiency.

This has led to redundancies and has required the Bank to evaluate its current resource capacity, which may necessitate reducing duplication of functions.

It is anticipated that over 1,200 employees of the current total of 3,728 will be affected.

Source
eNCA