Bawag Faces Radical Job Cuts

Businessn.a. ♦ Published: November 5, 2013; 22:09 ♦ (Vindobona)

The Austrian bank implements fierce austerity measures. About a fifth of the jobs may be cut.

Bawag Faces Radical Job Cuts / Picture: © BAWAG

Since 2010, the Next year, Bawag will reduce its workforce substantially, according to the Austrian newspaper “Standard”. In the last four years, about 200 employees have left the bank. In the first quarter of 2014, more than 700 jobs will be cut, “Standard” reports. At the moment, Bawag has 3,950 staff members.

Until 2007, Bawag was owned by the Austrian Federation of…