Standard Bank has announced that it is looking to cut over 500 IT jobs at the group.
This is part of plans to restructure its IT division, it said, adding that the majority of affected positions are in the executive and managerial bands.
In a statement on Wednesday the group said that 526 Section 189 notices have been issued, but stressed that is not representative of the final number of employees who might leave the employment of Standard Bank after the consultative process has run its course.
The restructuring of the group’s IT division is expected to create new roles at the bank, particularly in the fields of cloud engineering, data science and analytics, cyber security, and APIs to enable an integrated ecosystem.
“This will create over 180 new-generation IT positions within the bank. Regrettably, this will also result in the loss of a number of existing traditional IT positions,” it said.