This archive report was first published on 8 August 2019.
Stanbic Bank, one of the largest banks in Kenya, has announced plans to lay off 250 employees by the end of the year.
According to a statement issued by the bank, the affected employees will be given the option to leave early and receive their full salary for the remaining period of their contract.
Those who choose to leave early will also receive their benefits, including health insurance, until the end of the year.
The bank has stated that the decision to lay off employees is due to the current economic situation, which has affected the banking industry as a whole.
Stanbic Bank is not the only bank to have made such a decision, with other banks such as Family Bank, National Bank, and Barclays Bank also laying off employees in recent months.
Published on August 8, 2019, at 6:47 PM EAT.
