VBS bank ‘lays off’ its workers

Die Vryburger

VBS bank ‘lays off’ its workers
VBS bank 'lays off' its workers. Photo: Die Vryburger

VBS Mutual Bank has fired 94 employees, leaving the bankrupt bank with only 26 staff members.

Nearly R2 billion has been deceptively paid to individuals and institutions, especially to officials from municipalities who had insured that funds were invested at the bank.

Branches are closed and only Thohoyandou and Makhado branches are still operating.

The dismissed workers are dissatisfied and believe they are now being penalized for the actions of the bank’s management and directors.

Read the original article in Afrikaans on Die Vryburger

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