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Home BUSINESSS Bank to cut 44 jobs
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Wed, 16 Dec, 2015 12:31:01 AM
FTimes – STT Report, Dec 16
File Photo – Lehtikuva.
S-Bank on Tuesday announced that will lay off 44 employees at the end of the codetermination ne-gotiations. 
The redundancies mainly affect bank employees who serve customers by appointment only on mat-ters related to investment and mortgage.
“When the fixed-term contracts expire, the number of layoffs will reach 60 in total,” said the bank’s managing director Pekka Ylihurula in a statement.
The final number of layoffs fell short of expectations. When the codetermination negotiations in-volving 509 employees started in late October, the bank stated that it could potentially lay off 80 employees.
According to S-Bank, the planned changes will not affect the functioning of S Group outlet banking spots. Those bank employees are cooperative workers and not involved in the codetermination negotiations.
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