Banks in Abu Dhabi had cut around 1300 jobs in 2017, according to information available with the Statistics Center Abu Dhabi (SCAD). The total number of bank employees in the emirate stands at 11,900 at the end of the fourth quarter of 2017. SCAD said the total number of employees has fallen by 10.3% when compared to the 13,200 employees in service at the end of the fourth quarter of 2016. Of the 1,300 jobs lost during the year, around 200 of those were cut in the second half of 2017. An earlier report from SCAD had said the number of employees in the banking sector stood at 12,100 at the end of June 2017, as opposed to 13,000 at the end of June 2016. The redundancies in 2017 come as industries across the board cut costs amid pressure from slower economic growth during the year.
