First Community lay-offs add to piling bank staff redundancies

The number of employees being laid off by commercial banks continues to pile up with First Community Bank becoming the latest lender to announce that it will be sending home some staff as the effects of the recent interest rates cap continue to manifest.

The Shariah-compliant lender, which has just over 300 employees, said in a statement last week that it would in a fortnight release the list of employees who will be leaving the bank as part of its cost-cutting.