Stop the retrenchments at Absa - Updated
Channel: Solidariteit
Date: 2012-04-02

Solidarity announced on Monday 26 March it would be launching a massive campaign to put a stop to the retrenchments at Absa. The Stop Absa campaign's slogan will be "Today, tomorrow, to court".The campaign comes after Absa employees received letters regarding the restructuring last week. Several employees' services will be terminated on 31 March 2012 and several others' services will be terminated on 13 May 2012.

This updated video does not contain the Absa logo as per their request.

The total number of employees and posts that will be affected is not known, however."According to our information, Absa was instructed by Barclays to cut personnel costs by 10%. It is clear to us that Barclays' grip on Absa is getting tighter. Our focus will therefore shift to Barclays. We don't approve of a situation where the employees of a profitable South African bank subsidise a bank in Britain," said Dirk Hermann, Deputy General Secretary of Solidarity.