Kenya's KCB starts cutting jobs to save 2 bln shillings per year

Thu Apr 20, 2017 4:34pm GMT

NAIROBI, April 20 (Reuters) - Kenya's KCB Group, the country's biggest lender by assets, has invited its employees to apply for a voluntary early retirement programme, to save an estimated 2 billion shillings ($19.36 million), it said on Thursday.

The firm, which also operates in five neighbouring countries, had said earlier it would cut an unspecified number of jobs, mainly due to technological changes and the capping of commercial rates in Kenya last September. ($1 = 103.3000 Kenyan shillings) (Reporting by Duncan Miriri; Editing by Adrian Croft)

Powered by Reuters AlertNet. AlertNet provides news, images and insight from the world's disasters and conflicts and is brought to you by Reuters Foundation.