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Family Bank turns to layoffs to manage costs

Family Bank CEO David Thuku

NAIROBI: Family Bank, which recorded 40 per cent drop in half year earnings, will lay off unspecified number of workers in the next two weeks as part of the lender’s move to cut cost.

The mid-tier lender has already called for voluntary early retirement for employees who are on permanent and pensionable terms to submit the applications by October 14.

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