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Raiffeisen Sector: Austerity Cuts Ahead
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RZB (Raiffeisen Zentralbank), the majority shareholder of Vienna-listed RBI (Raiffeisen Bank International) plans to reduce its costs substantially.
Raiffeisen Sector: Austerity Cuts Ahead / Picture: © Raiffeisen Bank International
Until 2017, RZB´s management plans to pursue a strict austerity policy. In total, the planned cost reduction comes at € 75m. The workforce should be reduced by 10%. According to board member Johannes Schuster, more than 120 jobs will be cut.
Schuster: “What currently happens at RBI, also is happening at RZB to a smaller extent.” RBI´s CEO Karl Sevelda announced that the…
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