Solidarity challenges Ramos to deny rumours of large-scale retrenchments at Absa

Trade union Solidarity today openly challenged Maria Ramos, CEO of Absa, to either deny rumours of large-scale retrenchments at the bank, or, if retrenchments are really on the cards, to be open about the precise number of employees who could be affected. This comes after a very reliable source close to Ramos contacted Solidarity a few weeks ago, claiming that Absa was planning to perform large-scale retrenchments. Barclays allegedly gave the instruction for the planned retrenchments to be implemented as a cost-cutting measure.

According to Dirk Hermann, Deputy General Secretary of Solidarity, the trade union has directed two letters to Ramos, requesting that she quell these rumours. "Absa has not confirmed, nor denied the rumours in both responses directed to us, however," said Hermann. "Our only option is to ask Ramos to deny these rumours in public, thereby placing it on record.

Meanwhile, thousands of Absa employees are faced with a great deal of uncertainty over their future at the bank. If Ramos denies the rumours unconditionally, the employees will be able to lay their fears to rest."

Statement issued by Dr Dirk Hermann, Deputy General Secretary: Solidarity, March 15 2012

Click here to sign up to receive our free daily headline email newsletter