Erste Group: Massive Cuts in Romania

Business › Economy ♦ Published: December 18, 2012; 00:01 ♦ (Vindobona)

Due to the weak performance of BCR, the Austrian bank plans to lay off 1,600 employees in Romania. BCR´s NPL quota remains on a high level.

Erste Group: Massive Cuts in Romania / Picture: © BCR Banca Comercială Română

Erste Group´s Romanian subsidiary BCR (Banca Comerciala Romania) will lose about 1,600 employees. Due to the weak performance of BCR, Erste Group decided to reduce the number of employees radically. According to BCR´s CEO Tomas Spurny, 18% of the whole workforce is affected. Spurny explained that it would be important now to save the jobs of the remaining 7,500 employees. In total, 60…

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BCR Banca Comerciala Romana, Erste Group, Romania, Banking Industry, NPL Non Performing Loans, Lending, Capital Markets
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AT0000652011
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