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Provider: Reuters Investment Profile
Provider: Wright Reports
Provider: Directors Deals Ltd.

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Aktia Bank Plc Initiates Codetermination Negotiations Possibly Resulting in 65 Redundancies

Tuesday, 8 Oct 2013 02:30am EDT 

Aktia Bank Plc announces that in certain regional and central functions of the Company, codetermination negotiations are initiated regarding measures to enhance effectiveness and reorganizing of business operations. At the same time, codetermination negotiations are also initiated at Aktia Life Insurance Company Ltd. The estimated reduction of Aktia Group's staff is approximately 95 persons, of which approximately 65 persons risk to be made redundant. The measures planned are based on the Action Plan 2015 as approved by Aktia's Board of Directors and previously communicated. Said measures are expected to lower annual costs by EUR 5-6 million when they have been implemented in 2014. 

Company Quote

-0.2 -1.57%
26 May 2015