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

Published 10/04/2017, 14:41
Updated 10/04/2017, 14:50
© Reuters. The logo of Raiffeisen Bank International is seen at a branch office in Vienna

VIENNA (Reuters) - Austrian lender Raiffeisen Bank International (VI:RBIV), 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 (42.61 million pounds) and cut 850-950 full-time equivalent (FTE) jobs by the end of 2019, it said in a statement.

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