CAPE TOWN – The Association of Black Securities and Investment Professionals (Absip) has called on banks’ management and unions to get back to the negotiating table and craft well-balanced solutions, in the wake of threats of an unprotected strike in the sector.
Absip president Sibongiseni Mbatha said in a statement on Thursday that the association was aware that Cosatu and its affiliate, the Sasbo, would appeal the labour court ruling interdicting the planned banking sector strike on Friday.
Sasbo announced on Thursday that it would launch an urgent appeal against the labour court judgment that barred the strike. Cosatu said the battle against job losses at banks has only been “postponed and not cancelled”.
Mbatha said: “In any economy or sector, job losses are worrisome and a cause of concern. As digitisation, automation and competition from new banking entrants such as mobile banking took effect, the job losses had been anticipated for a long time.
“Unfortunately the bank management has not prepared staff for alternative positions and opportunities. These could have taken the form of skills training and seed funding for small business formations for employees at risk.”