April 28, 2019 / 7:56 AM / a month ago

UAE's United Arab Bank cuts 150 jobs - sources

ABU DHABI, April 28 (Reuters) - United Arab Bank made about 150 staff redundant last week as part of cost cutting and efficiency measures, three sources told Reuters.

The bank said in a statement it had completed an assessment of its human resources requirements that concluded it had “excess capacity”, without giving details.

Banks in the United Arab Emirates have cut thousands of jobs in recent years due to a slowing economy and consolidation in the banking sector. (Reporting by Stanley Carvalho; Editing by Toby Chopra)

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