The Labour Court ruled on Thursday the planned banking sector protest would be unprotected. Trade union federation Cosatu and banking union Sasbo were interdicted by the court.
The court delivered its judgment on the banking shutdown interdict on Thursday morning.
Business Unity South Africa (Busa) wanted the court to declare the looming banking sector strike unprotected.
Banking union Sasbo said that over 40,000 finance sector employees were ready to take part in the strike against retrenchments on Friday.
Trade unions said that banks were unilaterally laying off employees instead of upskilling them so that they could remain relevant in the fourth industrial revolution.
Friday’s planned shutdown relied on a Nedlac-approved notice that was issued two years ago.
Business Unity South Africa (Busa)’s Kaizer Moyane: “Any blows to the economy is bad for everyone, so what we’d like to see is that whatever happens with the case, is that we’re still committed to all work together at Nedlac as social partners.”
Unions accused Busa and government of turning a blind eye to their demands.