Here are the People who have been fired from the Kenyan Banking Sector

The Kenyan banking sector has been ­going through some economic turmoil ever since the implementation of the interest rate capping law.

Since then, most banks have been scaling down on their workforce as they concentrate their products and services on digital platforms.

As a result, a number of people working for various notable banks in the country have lost their jobs.

According to a report by Kenya Bankers Association, more than 2,000 bankers lost their jobs in the year 2017 alone.

Soko Directory has managed to get some of the notable banks that have had to let their workers go as they increasingly move their services on mobile.

In June 2017, Barclays Bank of Kenya commenced its voluntary exit scheme that was open to all permanent employees. The scheme aimed at letting go 130 employees. It is, however, not clear whether all the 130 employees went voluntarily or were at long last forced to leave.

In April 2017, the Kenya Commercial Bank announced that it had kicked off the process of retrenching over 1,000 employees. The lender offered a voluntary program for its workers who were considering early retirement. This was in line with the bank’s transformation strategy.

Equity Bank sent home 400 workers in 2016 continuing the trend that had kicked off in 2015 when the lender shed off 660 jobs through voluntary exits.

Sidian Bank has had to let go 108 employees with Standard Chartered firing 300 of its workforce.

Family Bank recently sent home more than 100 employees while First Community Bank and NIC Bank sent home 32 employees each.

Ecobank is said to have laid off an undisclosed number of employees with economic analysts foreseeing more job losses in 2018.

Jan 2018 began with National Bank announcing its plans to send home 150 of its employees in the second retrenchment phase aimed at cutting costs. The employees to be sent home were those who have been at the institution for 5 years and more.

In 2014 the bank sent packing 200 employees at a cost of 1 billion.