House chair, last week Standard Bank announced that it will be closing 91 branches which will result in 1 200 jobs being lost. And for the second time in less than a week, the ruthlessness and parasitic behaviour of South African banks were once again exposed. They did not care about South Africa and its people. All they are interested in is profit.
But these job losses do not only show the greedy and selfish nature of the banking industry. It also highlights the failures of this government.
For over a year, government has been talking about the Fourth Industrial Revolution and all the plans it has in place to release its potential.
So, why is it doing nothing to incentivise or compel companies like Standard Bank to retrain their workers so that they are able to adapt to the new work requirements of the Fourth Industrial Revolution?