DUBAI: Dubai investment bank Shuaa Capital has cut about 15 per cent of its workforce, sources familiar with the matter told Reuters, ahead of a possible sale of a stake in the company by Dubai Group. Before the lay-offs, which took place at the end of last week, the bank had about 70 employees. Shuaa did not respond to comment when contacted by Reuters. Dubai Group, a unit of Dubai Holding, the investment vehicle of the emirate’s ruler, mandated Emirates NBD in April to arrange a sales process for its 48 per cent stake in Shuaa. The stake is worth about Dh315 million ($86 million) at stock market prices.