Standard Bank to cut jobs

Standard Bank headquarters, central Johannesburg
  • Standard Bank will be closing 91 branches this year and 1200 jobs could be lost as a result.

JOHANNESBURG - Standard Bank aims to cut more than 500 jobs as part of plans to restructure its IT division.

The bank employs more than 54,000 people across the continent.

It said not all those affected by the restructuring will be retrenched.

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The new model removes older positions, replacing them with 180 new positions.

The new positions are in areas such as cloud engineering, data science and analytics.

Standard Bank joins Telkom’s ITC subsidiary BCX which plans to let go of about 800 workers.