Type
Internal restructuring
Country
Latvia
Region
Location of affected unit(s)
NA
Sector
Financial Services
Financial And Insurance Activities
Financial Service Activities, Except Insurance And Pension Funding
64 - Financial service activities, except insurance and pension funding

300 - 350 jobs
Number of planned job losses
Job loss
Announcement Date
23 April 2009
Employment effect (start)
1 April 2009
Foreseen end date

Description

In line with the financial data of the Swedbank for the first quarter of 2009, within one year the bank dismissed 14 per cent of the number of employees. 2600 employees were employed in the bank in 2008. Since the bank has established a new branch, part of employees haven't lost their jobs.


Sources

Citation

Eurofound (2009), Swedbank, Internal restructuring in Latvia, factsheet number 69398, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/69398.