Kenya Commercial Bank is set to fire over 500 employees. The bank will start by offering the employees the option of early retirement.
Those who don’t opt for this option will be subjected to a review process that could narrow their severance package.
KCB will become the latest local bank to send home employees. This follows the rapidly evolving banking sector and the shift to a more digital model of banking that has seen many employees who ran the traditional over-the-counter banking model declared redundant.
“KCB has over the past two years been reviewing its operations in an effort to improve efficiency, serve our customers better, and meet the expectations of our shareholders,” says the bank.
According to a local daily, among those likely to be affected are employees who are not covered by labour unions who were promoted to management levels.
