Nedbank Zimbabwe Limited has retrenched 23 workers, including 10 managers, with effect from 1 August 2022.
The bank’s spokesperson, Mary-anne Kwidini said the compulsory retrenchment exercise is in line with changes in the company’s strategic focus. She said:
Since 2019, we have been conducting a review of manpower and skills requirements for our current and future business needs in line with our Strategic Workforce Plan (SWP).
The above-mentioned SWP has been impacted by changing customer behaviour, new ways of work, process automation and the centralization of roles.
Our strategic workforce plan resulted in the redeployment of over 50 staff to roles which are in line with our evolved business needs.
Kwidini said the affected employees will be offered counselling support services to enable them to adjust to the changes. She said:
We are mindful that this process will be difficult for all employees. As such we have organised counselling support services for those who will be leaving and those who will be remaining.
We will be working hard to ensure that these changes are made with empathy.
Nedbank Zimbabwe, formerly Merchant Bank of Central Africa Limited (MBCA), was established in July 2004.
The emergence of COVID-19 accelerated digitisation in the banking sector leading to retrenchments in the banking industry.