The future of more than 500 Standard Bank employees hangs in the balance as SA’s biggest bank by assets is looking to revamp its IT division. The bank said that it had concluded an IT review, and it had showed it needed to adapt its operating model and skills set. "This process will result in 526 IT employees receiving section 189 notices, which will commence the consultative process with the employees involved," the company said on Wednesday. The bank said the jobs that would be shed were in the traditional IT space, which would probably include people who worked with legacy systems and old application programs that were being phased out. Most of the affected permanent staff held executive and managerial positions. But Standard Bank said that the number of people who would get notices was not an indication of the final number of employees who might lose their jobs. The final number would be determined once the consultative process was complete. Eugene Ebersohn, assistant general se...

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