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Banca Comerciala Romana SA, Romania’s largest bank by assets, will cut about 18 percent of its workforce in the next 12 to 18 months, Tomas Spurny said, the lender’s chief executive officer, quoted by Bloomberg
According to the news site, the bank majority owned by Austria’s Erste Group Bank AG (EBS), will close more than 60 unprofitable branches and fire 1,600 people to reduce its total workforce to 7,500 to adapt its business model to the “new economic reality,” the Bucharest- based news service quoted Spurny as saying. BCR targets a cost reduction of 250 million lei ($74 million) in the next two years, according to newswire.
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