SAFTU statement on the Standard Bank decision to curl 1200 jobs
15 March 2019
SAFTU is vindicated that workers cannot guarantee the future of themselves and their families in a capitalist arrangement that continues to devour jobs, create mass poverty and even deeper levels of inequalities here and in the world at large.
Hot after the announcement of ABSA to slaughter 800 jobs, Standard Bank unashamedly announced that they will curl 1200 in what is a race to the bottom. The fact that Standard Bank sees the digitizing of their branches to be inline with 4th Industrial Revolution is communicating a message to workers that Industrial Revolution is a threat not a programme to up-skill and empower workers .
The news of job cuts in the financial sectors comes in the wake of an intensified job loss bloodbath whose epic center is in the manufacturing sector. This is the biggest disappointment in that we had hoped the manufacturing sector will be the face of the decent jobs agenda post 1994.
Announcements of job losses is happening with such frequency that many South Africans have lost count of the jobs that are being lost or threatened by the various private sector companies, the government itself and the state owned enterprises.
This job loss bloodbath will intensify post the elections and SAFTU believes that the threats to the job security of workers will be carried out immediately after the 8th May 2019 general elections.
Various mining companies are also involved in their own race to the bottom. Recently Impala/Sibanye announced that they will throw 13 400 workers to the long queue already populated by 10 million unemployed South Africans.