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ABSA denies mass retrenchments


Absa has denied claims that it's retrenching 3,000 staff members.

Spokesperson Ajit Bridraj says the Bank is continually evolving its systems and processes which sometimes lead to very limited job losses.

He says this will be done through natural attrition as evidenced by the reduction of 3,580 positions last year with retrenchments limited to 145.

Trade union Solidarity said on Wednesday that some of Absa's employees were called into an office and told there was no room for them in the company's new structure.