By GEORGE NGIGI Profitable Barclays Bank of Kenya is to shed off 50 jobs to cut costs and reduce its wage bill as lenders increasingly spend less this year to maintain profit growth. The bank on Monday said it laid off the contract workers at the end of December and indicated that it would deepen its costs cutting plans this year. It retrenched 200 managers in December 2010, which helped it to save Sh1 billion in the nine months to September in a period when its income remained flat.” Other top banks including Equity and Co-operative have gone slow on hiring plans and job cuts while some such as Kenya Commercial Bank are in the middle of a reorganization that has seen it cut its executive suite and announce a voluntary retirement plan.
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