Company/Organisation:
Swedbank
Geographic Location
Country:
European Union
Company
Sector:
Financial services
Financial and insurance activities
64 - Financial service activities, except insurance and pension funding
Number Employed:
21000
Employment Effects
Announcement Date:
17-07-2009
Planned Job Reductions min:
3600
Planned Job Reductions max:
3600
Type of Restructuring:
Internal restructuring
Foreseen End Date:
01-06-2010
Additional Information
Swedbank, a Swedish bank, has announced that it will reduce its workforce by 3600, with job losses occurring across the EU.
Swedbank has suffered after aggressively lending in the Baltic states, which are now in deep recessions. It has recorded losses of 182 million euros in the past year.
Sources:
17-07-2009Financial Times
17-07-2009New York Times
Sources Links:
www.ft.com/cms/s/0/b9771ee6-729f-11de-ad98-00144feabdc0.html
www.nytimes.com/2009/07/18/business/global/18swedbank.html
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