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SKS Microfinance Closes 78 Branches; 1200 Jobs Lost

Among the leading company in microfinance is SKS Microfinance Ltd with around 3,400 employees and 180 branches. But, even though this company is doing well, it had also experienced some business problems that led closing down 78 of its branches. This is quite sad news for surely a lot of people will be affected and to be specific would be jobless.

SKS Microfinance Logo

SKS Microfinance

Today, losing a job is really very difficult. Though there are a number of available jobs out there, the competition is just too high. According to Mr M.R. Rao, the managing director and chief executive of the company, this decision is really difficult for them, but they could not do anything due to the financial problems that the company is experiencing.

But, there will be an incentive for their employees since they will be given two months’ salary and 15 days pay for every one year of service they have offered to the company.

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