Greece – Alpha Bank to cut 15 percent of jobs

Alpha Bank, Greece’s fourth biggest lender, opened a voluntary redundancy offer on Monday with a view to cutting 15 percent of its workforce to cut costs under a restructuring plan approved by the EU Commission, an official at the bank said on Monday. 

All four of Greece’s top banks have been restructuring but Alpha’s bigger rivals National Bank, Piraeus and Eurobank completed similar job cutting schemes last year.

“The bank launched a voluntary separation scheme on Monday to rationalise staff numbers after the absorption of Emporiki Bank. The scheme is open to all staff and expires on Sept. 30,” the official at Alpha bank said, declining to be named.

Alpha Bank aims to cut about 15 to 20 percent of its workforce of about 10,000, the official said.

Chosen excerpts by Job Market Monitor. Read the whole story at Greece’s Alpha Bank seeks 15 pct cut in jobs with voluntary redundancy offer-source | Reuters.