Type
Internal restructuring
Country
Lithuania
Region
Lietuva; Vilniaus apskritis;
Location of affected unit(s)
Sector
Financial Services
Financial And Insurance Activities
Financial Service Activities, Except Insurance And Pension Funding
64.19 - Other monetary intermediation

300 jobs
Number of planned job losses
Job loss
Announcement Date
21 July 2009
Employment effect (start)
Foreseen end date
31 December 2009

Description

One of the biggest banks in Lithuania Swedbank intends to dismiss 300 employees by the end of 2009. At the moment Swedbank employs 2990 people. According to the management, the main cause of the dismissals is decreased volume of the services provided in the country. Swedbank has already closed 5 branch offices in Lithuania since the beginning of the year 2009.


Sources

  • 21 July 2009: Lietuvos Rytas

Citation

Eurofound (2009), Swedbank, Internal restructuring in Lithuania, factsheet number 69374, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/69374.