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Provider: Reuters Investment Profile
Provider: Pechala's Reports
Provider: Pechala's Reports

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National Bank of Greece SA To Cut 15% Of Workforce-Reuters

Wednesday, 13 Feb 2013 03:05pm EST 

Reuters reported that National Bank of Greece SA on February 13, 2013 said it would cut up to 2,000 jobs, or about 15% of its workforce, to generate savings from its acquisition of smaller rival Eurobank . The cuts will target employees that are close to retirement and will be carried out on a voluntary basis, the bank said. They will be completed by March and will only affect National Bank employees, said a bank executive who declined to be named.