Family Bank on Tuesday temporarily put on hold the provision of afternoon tea for its employees in order to cut back on costs.
Procurement and Logistics officer, Muchane Ndung’u in a memo said that the bank would only provide its staff with morning tea, only in a bid to restore its profitability.
“Beginning today we have suspended company sponsored afternoon tea and only morning tea will be served,” said Mr Ndung’u.
“We have had to make some very hard choices. We have been forced to re-look every one of our cost lines and re-evaluate where we can make further reductions to restore the bank back to profitability.”
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He said that the management had put a lot of thought into it and asked its workers to bring forth their ideas on how to further cut costs.
“Please contact me so we can discuss how ideas can be implemented. It is imperative that we get back to profitability as soon as possible.”
The lender reported a 492 million net loss for six months to June 2017. This was due to a 50 per cent reduction in interest income and an increase in bad loans.
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