Banks lay off 1,200 employees in Q1

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Romanian banks’ layoffs reached 1,200 employees in the first quarter of the year, as a consequence of the banking institutions having restructured their activities, reads the Business Standard magazine, quoting the Romanian Banking Institute (IBR).
The banks, with no less than 6,500 branches nationwide, leaving Bucharest aside, have stopped the development of their territorial network.
According to the abovementioned source, the development of the banks’ territorial networks has already lasted for two months. There are approx. 50,000 employees working for the banks in the territorial network.
The total number of employees in the Romanian banking system late in 2008 reached 71,505, a growth by 53 percent against the 58,000 employees in end-2006.
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