News About 400 employees at ADCB to be laid off;...

About 400 employees at ADCB to be laid off; 20 branches to close

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Around 400 employees at the Abu Dhabi Commercial Bank will be affected by the bank’s latest job cuts announcement, reported by a local media outlet. 

Citing ‘sources’, Expat Media reported that the layoff will affect 400 ADCB employees. However, in the statement, the bank did not mention the total number that will be terminated. 

The bank was also reportedly looking at closing 20 branches in cost-cutting efforts. 

ADCB has already announced in March that it will not terminate employees in 2020 but in May, it reported an 84 percent fall in net profit for the first quarter. 

Photo by Trade Arabia

Ryan Namia
Ryan Namia spends most of his days reading over drafts of new written content and determining which ones make the final cut for online and print publication. He received his Bachelor's degree in Journalism in 2015 and has been writing since 2016. Got story to tell? Email him at eic@theglobalfilipinomagazine.com.

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