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Banking sector pins hopes on court to halt shutdown

Banking union Sasbo said that over 40,000 finance sector employees were ready to take part in the strike against retrenchments on Friday but Business Unity South Africa (Busa) wants the court to declare the strike as unprotected.

Picture: Pixabay.com

JOHANNESBURG - The banking sector is pinning its hopes on the Labour Court to stop a looming shutdown that threatens to cripple the economy.

The court is expected to deliver judgment on the banking shutdown interdict on Thursday morning.

Business Unity South Africa (Busa) wants the court to declare the looming banking sector strike as unprotected.

Banking union Sasbo said that over 40,000 finance sector employees were ready to take part in the strike against retrenchments on Friday.

Trade unions said that banks were unilaterally laying off employees instead of upskilling them so that they could remain relevant in the fourth industrial revolution.

Tomorrow's planned shutdown relies on a Nedlac approved notice that was issued two years ago.

Business Unity South Africa (Busa)’s Kaizer Moyane: "Any blows to the economy is bad for everyone, so what we'd like to see is that whatever happens with the case, is that we're still committed to all work together at Nedlac as social partners."

Unions have accused Busa and government of turning a blind eye to their demands.

And now the Labour Court will have the final say on whether banking workers can go on strike tomorrow.

WATCH: Bank strike: Why workers are striking and how it will affect you