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

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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:

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> 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.

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