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U.A.E.’s Commercial Bank Plans to Cut Up to 18% of Its Workforce

  • Lender expects 80-100 staff to take voluntary redundancy
  • Qatar National Bank unit is exiting some business segments

Commercial Bank International PSC will trim as much as 18% of its workforce through a voluntary redundancy program as the United Arab Emirates lender withdraws from some business segments, people with knowledge of the plan said.

Between 80 to 100 people are expected to accept the offer, said the people, asking not to be identified because the information is private. The bank employs about 550 people across nine branches.