National Bank to retrench staff in January

In a circular dated December 21 from the Managing Director Wilfred Musau, the management has taken the decision as a reaction to the banking industry's reality of reduced margins arising from new price capping regulations. PHOTO: COURTESY

National Bank of Kenya has announced plans to lay off staff and offer an incentive early voluntary retirement plan starting January.

In a circular dated December 21 from the Managing Director Wilfred Musau, the management has taken the decision as a reaction to the banking industry's reality of reduced margins arising from new price capping regulations.