500 KCB employees to go home

kcb

500 KCB employees to go home

KCB has already sacked over 1,000 employees since 2010

KCB Group has announced plans to lay off 500 employees in the wake of technological advancements and capping of interest rates.
The bank, which has operations in Uganda, Tanzania, Rwanda, Burundi and South Sudan has already sacked over 1,000 employees since 2010.
This has been partly due to technological advancements in the banking sector as well as high wage bill.

More bank workers face the sack over technology, interest-cap Bill

In its recent retrenchment drive, KCB said evolving technology changes and a dynamic regulatory regime had forced it to trim payroll.

Several banks have laid off workers since the signing of the interest-capping Bill last year, including Equity, Stanchart, BOA, Family Bank, Ecobank, Sidian (formerly K-rep Bank), Coop bank, Barclays bank, NBK and First Community Bank.

 

Leave a Reply

Your email address will not be published. Required fields are marked *