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Swedband to cut workers more than previously thought

Friday, 18 November 2011
The shaky state of the world economy is forcing the Swedish big bank Swedbank to extensive employment cutbacks.
According to Swedish business daily, Dagens Industri, it’s not clear how many people are affected by the planned savings which is being blamed in the dime business climate out there.

Swedbank plan to realize substantial savings in analysis and brokerage the bank confirmed according to Dagens Industri. "We need to relate to a new reality," says information director Thomas Backteman.

Thomas Backteman confirms that the bank now sees that the organisation is looking at discussions about staff cutbacks and that it is already under way, Though he would not talk about a timetable or how many employees are likely to be affected by the decisions.

"It is too early to answer in this situation,” he said. He points that out that the bank is continuously working to streamline its operations in recent years. In terms of number of employees, and from the peak in summer 2008, so the bank has shrunk personnel with some 5000 people.

It has mainly focused on employees in Russia, Ukraine and the Baltics. But even employees in Sweden have been going and this trend is likely to continue in the planned increased cut backs.
By Scancomark.se Team

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Swedband to cut workers more than previously thought

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