Many cups of tea and coffee [Photo: dimitri otis]
In a bid to cut costs, Family bank has suspended its staff's afternoon tea and will only provide morning tea.According to a memo from the bank's procurement and logistics department, the tea suspension took effect from Tuesday, August 22.“Beginning Tuesday, we have suspended company sponsored afternoon tea and only morning tea will be served. This is not a decision to be taken lightly; a lot of thought and debate went into making this decision. Every bit of cost cutting will help us get back to profitability,” Muchane Ndungu, the bank’s head of procurement and logistics said in the memo.The directive comes at a time when the bank is facing challenges related to interest capping law introduced last year.The bank stated that the decision of rationing was reached at after a lot of discussion and noted it will help the institution save money.The bank posted a Sh492 million net loss in the first half of 2017 compared to a net profit of Sh711.5 million the year before.The order however came as a surprise to a section of employees while others agreed the bank would indeed make savings through the rationing.