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BBK Kenya says to cut jobs to control costs
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Dod
#1 Posted : Wednesday, January 19, 2011 12:36:50 PM
Rank: Member

Joined: 10/4/2010
Posts: 223
Location: Afghanistan
BBK said on Wednesday it would lay off 200 management-level staff in an effort to cut costs.

http://www.reuters.com/a...le/idUSLDE70I06920110119
The rich have money working for them; the poor and the middle class are going to work for money.
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mlennyma
#2 Posted : Wednesday, January 19, 2011 12:44:00 PM
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Joined: 7/21/2010
Posts: 6,194
Location: nairobi
Am told some 600 juniors went towards end of 2010 na bado
"Don't let the fear of losing be greater than the excitement of winning."
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Wa_ithaka
#3 Posted : Wednesday, January 19, 2011 12:53:38 PM
Rank: Veteran

Joined: 1/7/2010
Posts: 1,279
Location: nbi
Full year for 2010 must be looking ugly for it to be doing this so near year end.
The Governor of Nyeri - 2017
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DOM2002
#4 Posted : Wednesday, January 19, 2011 12:57:02 PM
Rank: Member

Joined: 7/20/2009
Posts: 11
The most logical thing to watch is the BBK share price at NSE.I can bet that it will head North.This is for the apparent reasons of the benefits associated with such a corporate action.Shame on you
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mlennyma
#5 Posted : Wednesday, January 19, 2011 2:13:58 PM
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Joined: 7/21/2010
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Location: nairobi
Bbk is doing relatively well but they must act on orders from their bosses abroad.
"Don't let the fear of losing be greater than the excitement of winning."
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FundamentAli
#6 Posted : Wednesday, January 19, 2011 2:40:52 PM
Rank: Veteran

Joined: 11/4/2008
Posts: 1,289
Location: Nairobi
mlennyma wrote:
Bbk is doing relatively well but they must act on orders from their bosses abroad.


Where did you hear this? The guys are the only ones with a stagnant asset base. All other banks are going their asset bases by an average of 20%. Soon, they will be the number 5 bank in Kenya after KCB, Stanchart, Equity and Coop. Talk of stratergy gone wrong.
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mlennyma
#7 Posted : Wednesday, January 19, 2011 2:45:10 PM
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Joined: 7/21/2010
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Location: nairobi
Profit above 8b fy cant be considered bad for this guys by all means
"Don't let the fear of losing be greater than the excitement of winning."
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youcan'tstopusnow
#8 Posted : Wednesday, January 19, 2011 3:40:40 PM
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Joined: 3/24/2010
Posts: 6,779
Location: Black Africa
mlennyma wrote:
Profit above 8b fy cant be considered bad for this guys by all means

It's not about what they made last year but by how much will they grow in the next 5. Are they able to compete with the other Kenyan banks? Hapana
GOD BLESS YOUR LIFE
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Cde Monomotapa
#9 Posted : Wednesday, January 19, 2011 5:05:20 PM
Rank: Chief

Joined: 1/13/2011
Posts: 5,964
Bbk was a reasonable investment from 10yrs ago. Now they are at e.t.c - end of thinking capacity. Disadvantages of being a subsidiary...
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Obi 1 Kanobi
#10 Posted : Wednesday, January 19, 2011 5:12:42 PM
Rank: Elder

Joined: 7/23/2008
Posts: 3,017
FundamentAli wrote:
mlennyma wrote:
Bbk is doing relatively well but they must act on orders from their bosses abroad.


Where did you hear this? The guys are the only ones with a stagnant asset base. All other banks are going their asset bases by an average of 20%. Soon, they will be the number 5 bank in Kenya after KCB, Stanchart, Equity and Coop. Talk of stratergy gone wrong.


@Fundamentally, are you serious? With the kind of profits they are making, there is no way they will lose ground that easily.

You may also want to look up the size of their corporate business book in Kenya, its huge.
"The purpose of bureaucracy is to compensate for incompetence and lack of discipline." James Collins
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