Fifteen posts have been made redundant across Lasco Financial and its subsidiary, Lasco Microfinance, following an organisational restructuring exercise between April and June.
The move is an effort to revive growth and profitability.
According to the company's first-quarter earnings report, the brunt of the cost cutting appeared to be focused around the microfinance business, which has been struggling since the pandemic.
The company booked impairments of $650 million on loans after job cuts robbed its clients of income to service their debt.
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