Erste Group: Job Reduction in Hungary

Published: November 11, 2010; 14:43 · (Vindobona)

The Austrian bank plans to cut 250 jobs in Hungary. Reasons are the bad loans and the introduction of the bank tax.

Erste Group: Job Reduction in Hungary / Picture: ©

Erste Group is reducing the staff of its Hungarian subsidiaries by 9%, i.e. 250 employees. There are no further plans for layoffs according to the Hungarian newspaper MTH.

Hungary taxes banks with 0.45% of their total assets, according to what the Orban government decided in July 2010. The bank tax is however limited in time from 2010 to 2012. In total, the altogether in…

This article includes a total of 206 words.

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