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Bawag to Cut 700 Jobs
The Austrian bank plans to sharpen its austerity program. The private trade segment should be downsized in order to reduce the equity requirement.
Bawag to Cut 700 Jobs / Picture: © BAWAG
The business customer segment and the trading segment will be downsized radically. According to “Wiener Zeitung”, these segments are not profitable enough. However, the customer segment should be enlarged.
Bawag did not comment the reports and referred to the austerity program launched in 2010. According to the program, 500 jobs should be cut until 2013. “Nothing has…
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