Stockbrokers cut jobs to stay afloat at NSE
19 December 2011, 17:23
Nairobi -Stockbrokers are cutting jobs and putting a freeze on employment to cut cost as trading income show few signs of recovering from the bearish run at the Nairobi Securities Exchange (NSE).
Kestrel capital, the largest brokerage by market share, has fired four employees joining firms such as Francis Drummond, Equatorial Investment Bank and Dyer and Blair Investment bank in reducing their work forces.
Others such as Sterling Investment Bank, Suntra Investment Bank and ABC Capital have put a freeze on hiring plans as some of these market intermediaries reduce their office space to preserve cash.
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