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"Steward Bank Has Embarked On A Retrenchment Exercise To Rationalize Staffing Levels"

Steward Bank, a subsidiary of Econet Wireless Zimbabwe, says it is in talks to retrench some workers after increasing automation of its banking processes.

The bank said in a statement on Tuesday afternoon:

 Following the successful deployment of our new core banking, additional automation of our banking processes and the investments we continue to make in our digital transformation journey, Steward Bank has embarked on a retrenchment exercise to rationalize its staffing levels.

Our investments in technology have necessitated the optimization of our organizational structure and the need to reduce staff numbers consistent with our changed operating model.

The bank is consulting with all the affected employees, together with the Works Council, to ensure clarity and transparency in the process and to, as much as possible, mitigate the impact this change will have on the affected staff”.

Steward Bank remains committed to delivering quality services to our customers and supporting all the affected staff and stakeholders.

This is happening when the Zimbabwe Banks and Allied Workers Union (ZIBAWU) Monday threatened a crippling job action, as they escalated demands for United States dollar-indexed salaries.

More: Pindula News


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15 Comments

ITAI ZVAMANGAMUCHIITA 3 months ago

AND SOMEONE AT A CERTAIN UNIVERSITY IS THERE STUDYING BANKING AND FINANCE..🤣🤣


Makelanwi 3 months ago

Steward Bank yadhakwa,izvozvi kuPay yangu yakakandwa musi wa31January haisati yaita.


Light 3 months ago

Tsvakai mabasa asingatorwe netechnology.


🧑‍🎓 3 months ago

I wonder why they still teach things like Banking and Finance in universities


Mephistophles 3 months ago

JOBS JOBS JOBS. OPEN FOR BUSINESS. Mabasa achitopera maBusiness achiita retrenchment. Technology taking over. Artficial intelligence making humans dispensable and redundant. Yuval Noah Hariri was right.


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Vax 3 months ago

Iiii shame on you MBOKO unonzwisa tsitsi MBOKO dai mwari vakubatsira vagona kukuvhura pfungwa nekuti dzako dzakafa kana uchine kufunga kwakadai, thank u ZIMBO guy nekuzama kumuonesa kana vana vako unovakudza sei


Chamatams 3 months ago

Iwe Mboko zve tribalism ndo zvinei. Tese tiri ma Zimbabweans. Why are you like that????


Shampoo 3 months ago

Come back Mr. Masiiwa and manage your Bank you started. Stewart Bank yaidadisa muriko. When you started it. Pleeease.


Chamatams 3 months ago

Aaaah Stewart Bank yaparara. Yaidadisa kudhara iine muridzi akaitanga Strive Masiiwa. Please Mr. MASIIWA come back. We are crumpling.


S 3 months ago

I mean GOD is watching. The pretenders vanonyebera kutya mwari. Kuburitsa vanhu mabasa. Lake of management. Managing what you are not experienced in. Siirayi vanozvigona.


magufuli 3 months ago

mmmmm ndaka zviona Kare kutii digital processes idziri Kuta advance kudaii mumabasa rimwe gore ma1 ndika tozvitira company.


Mhofu 3 months ago

Makatanga company yei nhai VaMagufuli?

Sir 3 months ago

Wakangwara iwe kumberi vakawanda vacharaskirwa nebasa

S 3 months ago

Ahhh kungowanzira vanhu. Kuita hutsinye of retrenchment because vanhu vari ku complainer their meager salaries. Ivo vachidya vachiguta. Mabhoyi tinogara takadaro kuitira vamwe hutsinye. Nekushandisana. Muchiti munonamata.Gid is watching.


MuGrade 2 3 months ago

Imagine you had planned and prepared for a crippling strike... suddenly you hear the rumours that the management is preparing a list for retrenchment...you will start appreciating those few cents,a half loaf of bread is better than nothing,goes e old adage



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