Dubai’s Emirates NBD has laid off around 300 people, the bank said. Around 100 staff were cut from Emirates Money, one of the bank’s subsidiaries, as part of a merger. A further 200 staff were shed from Emirates Islamic, the lender’s Shariah-compliant wing. News reports said in total, 800 jobs have been slashed since November last year in the Gulf state’s banking sector. The National Bank of Ras Al Khaimah cut up to 250 jobs earlier this year, while Abu Dhabi-based First Gulf Bank laid off almost 100. HSBC and Standard Chartered have also reduced their headcount by 150 each. A spokesperson for the bank said the bank had no current plans for further staff cuts. The bank employs more than 10,000 people.
