Dubai's Noor Bank cuts dozens of jobs -sources:
"Dubai-based Noor Bank has laid off several dozen employees, banking sources told Reuters on Tuesday, the latest lender to adjust to more subdued growth levels in the local financial services sector.
Although the number of jobs cut in the past few weeks was in the high double-digits, sources said the final figure for the planned redundancies could be more than 200. The Islamic bank's total workforce before the redundancies was around 1,200 to 1,500, the sources said.
"The Bank has seen significant growth over the past few years - and following a robust evaluation, believes that now is the time to streamline its functions and align to a new operating model," Noor said in a statement to Reuters in response to a request for comment on the redundancies."
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