JMMB to cut 50 employees
Published: Thursday | January 29, 2009
Jamaica Money Market Brokers (JMMB) is to cut 50 of its 350 staff positions, joining the list of public and private companies shedding some of its staff costs as the country continues to grapple with the worsening global economic downturn.
JMMB has been showing strong financial gains with profit after tax for the nine-month period ending December 31, 2008, growing 119 per cent to $1.2 billion.
However, JMMB Group CEO Keith Duncan said yesterday that the company must realign itself to drive growth in the face of the growing global turmoil.
JMMB is the Caribbean's leading money-market broker and the largest brokerage house in Jamaica. It was founded in 1992.
