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Raiffeisen plans to cut up to 950 jobs in Poland by end-2019
April 10, 2017 / 1:36 PM / 8 months ago

Raiffeisen plans to cut up to 950 jobs in Poland by end-2019

VIENNA, April 10 (Reuters) - Austrian lender Raiffeisen Bank International, which recently shelved plans to sell its Polish unit and announced it would restructure it instead, said on Monday it would cut the equivalent of up to 950 jobs in Poland by the end of 2019.

The bank plans to close 60-70 branches in Poland by 2018 as well as launch “cost-saving initiatives” of around 50 million euros ($53 million) and cut 850-950 full-time equivalent (FTE) jobs by the end of 2019, it said in a statement. ($1 = 0.9445 euros) (Reporting by Francois Murphy; Editing by Shadia Nasralla)

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