StanChart spends Sh205 million on new redundancies in Kenya

Standard Chartered Bank Kenya Chief Executive Officer Kariuki Ngari.

Photo credit: File | Lucy Wanjiru | Nation Media Group

Standard Chartered Bank of Kenya last year spent Sh205.63 million on redundancies, marking the ninth straight year of trimming its workforce amid rising staff costs.

The lender discloses in its latest annual report that it closed December 2023 with 1,020 jobs, dropping from 1,061 at the end of 2022.

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