Standard Bank to lay off staff

Standard Bank aims to cut 526 information technology (IT) jobs as part of plans to restructure its IT division.

The bank, which has over 54 000 employees in Africa, said not all workers affected by the restructuring might be retrenched, as it was engaging in talks with the union on how many would be laid off.

“Of the impacted permanent staff, the majority are in the executive and managerial bands.” – Reuters