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There is a risk that with continuing headcount reductions, it may be difficult to maintain its current systems.
Redundancies - in Local World corporate-speak "headcount reductions" - are also anticipated among management, commercial and administrative staff.
Although still loss-making, the path to profitability through better productivity, headcount reductions and long-term wage moderation is clear.
Jerry Gunnell, a corporate cash management specialist in Singapore, fell victim to Bank of America's headcount reductions in February.
"We also need to maintain the right size, shape, location and diversity of our workforce whilst delivering headcount reductions and redeploying staff in new roles.
"But I think it is being designed to appease NIFA and get the required headcount reductions and to hurt the union".
Similar(31)
As a result of the dismal results, RIM will cut costs including a headcount reduction.
It has taken £55m in exceptional charges, £37m of which relates to organisational and headcount reduction costs.
They said while no decisions had been taken, there was potential for cutbacks in some operational and support functions, which "may involve some headcount reduction".
The Learning and Skills council is also facing a headcount reduction, with 1,300 jobs threatened by centralising the service, equivalent to 38% of the workforce.
Commerzbank aims to add 2,300 jobs in areas where business is growing, which would ease the net headcount reduction to 7,300.
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