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Sasbo threatens to shut down all banks over retrenchment plans

The union claims three major banks are not willing to back down from their plans to cut jobs.

Picture: EWN.

JOHANNESBURG - The South African Society of Bank Officials (Sasbo) says if banks do not reconsider their plans of retrenching workers, they will shut down all banks.

The union claims three major banks are not willing to back down from their plans to cut jobs.

Sasbo’s Joe Kokela said there would be a two-day walkout from next month.

“People are earning up to R98 million in bonuses, while 163,000 people who work in banks don’t even earn R163,000 per annum.”