Abu Dhabi Islamic cuts 200 jobs

|By Arabian Post Staff| Abu Dhabi Islamic Bank, which bought Barclays Plc’s UAE retail business, has cut more than 200 jobs over the past three months, Bloomberg reported quoting some people.

The cuts were made mostly in the retail business, the report said. About 100 people were dismissed last month, with the layoffs mostly affecting junior staff, one of the people said. A spokesman for the bank, which employs about 2,500 people across the country, said the bank doesn’t comment on speculation and rumors, the wire service clarified.

Bloomberg listed Union National Bank and Emirates NBD among the banks that have reduced the workforce. Union National Bank dismissed about 50 people in August, while Emirates NBD reduced its workforce by more than 250 people at its small and medium enterprise and Islamic lending businesses in April.