Absa Reverses Decision on 140 Job Cuts, Labor Union Says
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Absa Group Ltd., the South African bank controlled by Barclays Plc, reversed its decision to cut 140 technology jobs by June, labor union Solidarity said.
“Absa’s announcement that the notices will be withdrawn is a big step in the right direction,” Dirk Hermann, deputy general secretary of Pretoria-based Solidarity, said in an e-mailed statement today. “The withdrawal of the retrenchment notices amounts to a tactical victory, but the final battle has not been won yet.”