Absa denies rumours of mass retrenchments

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 Absa has denied rumours that it is planning mass retrenchments to cut costs.
It says employees affected by its restructuring process are being given the opportunity to apply for positions across the group.

It was responding after Solidarity challenged Absa CEO Maria Ramos to confirm or deny rumours that "large-scale" retrenchments were on the cards.

Finance union Sasbo, which represents about 20,000 workers at Absa, has vowed to fight any possible retrenchments.