FNB to cut 600 jobs, close branches

FNB plans to close branches and cut jobs in South Africa, with roughly 600 positions affected.

By - March 14, 2016 Share on LinkedIn
iPhone 6S FNB

FNB plans to close branches and cut jobs in South Africa, with roughly 600 positions affected. This is according to a report by Bloomberg.

“More than 500 people at the Johannesburg-based company may be able to apply for other roles,” stated the report.

Roughly 10% of the bank’s branches will be affected – with 31 reducing staff and 40 closing.

Bloomberg said customers switching to digital banking and the economy being on the brink of a recession were contributing factors to the reductions.

“No full-service branches are affected and FNB is continuing to extend its network of ATMs,” FNB said in the report.

More banking news

Microsoft drops bitcoin as a payment method

SIM-swap victim feels betrayed by FNB, MTN after losing R200,000

Share your thoughts

Join the conversation

Connect with Us

androidappletwitterfacebookgoogleplusfeednewsletter

Poll

Who do you trust the most with your private information?

View Results

Loading ... Loading ...

More News

How to stop WhatsApp from sharing your information with Facebook

WhatsApp

If you are a WhatsApp user and do not want to share your account information with Facebook, you can take steps to prevent it.

The crazy price of the Microsoft Surface Pro 4 in South Africa

Microsoft Surface Pro 4

The Surface Pro 4 hasn’t officially launched in South Africa, but it is for sale online.

Nersa appealing Eskom tariff hike court judgment

Eskom logo dark

Energy regulator Nersa said it was appealing the North Gauteng High Court judgment which set aside its decision to approve a 9.4% tariff hike for Eskom.

MTN airtime advance launched

MTN logo 3D

MTN has launched an airtime advance feature called MTN Xtra Time.

Free MyBroadband Newsletter
×