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Now the company wishes to reduce the workforce further still.
According to some reports it plans to reduce the workforce to 100,000.
Cryan is planning to reduce the workforce by a quarter, or 23,000 jobs, to bring costs down and avoid a fundraising from shareholders.
This, at a time, when the west needs all the skilled workers it can get.The key point is that this a policy designed to reduce the workforce at a time when Germany faces a shortfall of workers.
Cryan – who has already announced plans to reduce the workforce by a quarter – took on a bank that had been rocked by scandals, including a record £1.7bn fine for rigging the Libor interest rate, which sparked accusations it had been obstructive towards regulators.
Its reorganisation of services will reduce the workforce by about a quarter.
Similar(44)
Bombardier is reducing the workforce by a fifth; 580 job losses are planned for this year and another 500 next year.
The Office for National Statistics reports that 270,000 posts were cut from the public sector payroll last year, reducing the workforce by almost 7%.
During the lock-out, the company announced that it was conducting a "spill and fill" of all positions, and reducing the workforce by a third.
By selling more than a dozen subsidiary companies and severely reducing the workforce, he refocused attention on the core automotive business and reversed the outward flow of money.
On top of over £30m of savings we've made over the past two years, which will result in the loss of over 350 jobs, in addition to over 600 jobs that we've reduced the workforce by in the same time period.
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