By Own Correspondent

TOP financial services provider, First Capital Bank (FCB) is set to cut 77 jobs with retrenchment package talks currently underway.

The Zimbabwe Banks and Allied Workers Union (ZIBAWU) secretary general, Peter Mutasa told The Worker all is not well at the financial institution as the issue has sent shivers among the workers.

“We are informed that the bank is set to cut off 62 non-managerial jobs plus 15 management jobs. No reasons have been given for the job cuts. Negotiations for retrenchment packages commenced last week but as of now we are not aware of what will be agreed on,” he said.

The union could not immediately give the reasons for the job cuts .

Contacted for comment, FCB Head of Marketing and Communication, Emily Nemapare confirmed the developments but would not delve into finer details.

“We have embarked on a strategic business realignment exercise for sustainability into the future and in response to changing industry, market, and environmental dynamics. Unfortunately, after exhausting possible options, on the same, some of our employees will be leaving the bank,” she said.

However, over the years the banking sector employees have lost jobs due to advanced technological applications which are taking over the space.