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Over 2 000 Bank Workers Lose Jobs, More Expected To Go

6 years agoThu, 05 Oct 2017 07:40:45 GMT
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Over 2 000 Bank Workers Lose Jobs, More Expected To Go

The Zimbabwe Banks and Allied Workers’ Union (ZIBAWU) has said that at least 2 000 workers have lost their jobs in the banking sector in the last five years. As more banks adopt technology this number is expected to go up.   Some banks have already phased out manual RTGS transfers and instead are asking customers to perform the transactions on their mobile devices.  ZIBAWU deputy general secretary, Shepard Ngandu, told The Financial Gazette:

Overall, employees in the sector currently stand at about 4 000, a sharp decline from about 6 000 in 2012.

The reduction in members is largely due to retrenchments over the period and some bank closures.

The staffing levels in the banking sector are generally a reflection of the political and economic situation prevailing in the country. Our situation has been made worse by the shortage of cash in the banks hence you see banks being manned by, say, three tellers or less instead of maybe eight or 10 tellers.

More: Financial Gazette

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