Digital ‘disruptor’ eats jobs at SA banks amid unemployment crisis

South Africa’s big banks have recently reported stellar earnings growth as part of their spirited bounceback from the Covid-induced slump. But not all is back to where it was prior to the pandemic, as banks continue to shed jobs to adapt to the digital era. 

Earlier this week, Absa reported that in the first half of 2022, the banking group increased its headline earnings by 27% to R11-billion. The bank has more than recovered from Covid-19’s onslaught, with all of its key measures above the pre-pandemic levels recorded in the first half of 2019.

Support the journalism that helps you navigate your world

Subscribe to the M&G today for just R30 for the first three months* to gain access to this story and all our best journalism, subscriber-only newsletters, events and a weekly cryptic crossword.”

.pmpro_signup_form-hidelabels .pmpro_checkout-field label:first-child {
clip: rect(1px, 1px, 1px, 1px);
position: absolute;
height: 1px;
width: 1px;
overflow: hidden
}

jQuery(document).ready(function() {
jQuery(‘.pmpro_short_selection’).on(‘change’, function() {
var level_id = this.value;
jQuery(“a#mg_discount_link”).attr(“href”, ‘https://mg.co.za/account-confirm-order/?level=’+level_id);
});
});
function mg_before_checkout() {
jQuery(“#password2”).val(jQuery(“#password”).val());
jQuery(“#bconfirmemail”).val(jQuery(“#bemail”).val());
jQuery(‘#pmpro_btn-submit’).css({‘pointer-events’:’none’, ‘cursor’:’not-allowed’});
jQuery(‘#pmpro_btn-submit’).val(‘Please wait…’);
gtag(‘event’, ‘singleSubsbutton’, {‘event_category’: ‘singleSubsbutton’});
}

Digital Subscriber (R 99.00)

Digital & Print – Annual Subscription (R 1,606.50)

Digital – Quarterly (R 30.00)

Have a discount code? Click here

Username

Password

Confirm Password

E-mail Address

Confirm E-mail

Full Name
LEAVE THIS BLANK

Existing subscriber? Login

Looking for another offer?

The post Digital ‘disruptor’ eats jobs at SA banks amid unemployment crisis appeared first on The Mail & Guardian.

Also Read

Related Articles