2 months ago
Standard Bank logo.
Standard Bank logo.  ~ 

OVER 1200 people face losing their jobs at Standard Bank.

This after the bank announced that it would be embarking on a new banking delivery model.

Standard Bank says it will be realigning its retail and business banking delivery model to the changing needs of customers.

“The shift in customer behaviour means that our clients are using our branches less,” The bank said.

According to the bank as part of the implementation of the new banking delivery model, some of the roles currently being performed in their branches will change.

“A decision has also been taken to close 91 branches, with the vast majority of these closing by June 2019. These changes will impact approximately 1200 jobs.

“However the actual number of employees who will ultimately exit the employ of Standard Bank SA could be lower, as new opportunities will become available in the new operating model,” the bank explained in their statement.

Standard Bank says it has also set aside funds to assist employees acquire new skills to improve their competitiveness in the labour market, as well as entrepreneurial training and financial assistance.

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