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Report: Stanbic Bank Kenya to lay off 255 employees

Standard Bank Group Ltd. unit Stanbic Bank Kenya Ltd. has offered voluntary early retirement packages to some 255 employees to lower costs, according to a memo seen by Capital FM.

One unnamed source from the company said the employees have until Aug. 9 to respond to the offer. The bank previously planned to lay off all the employees without offering any benefit plans, the source added.