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Nearly 1,000 Bank Austria staff volunteer for redundancy package
October 6, 2016 / 5:06 PM / 10 months ago

Nearly 1,000 Bank Austria staff volunteer for redundancy package

VIENNA, Oct 6 (Reuters) - Nearly 1,000 employees at Bank Austria, which is owned by Italy's UniCredit, have volunteered for a redundancy package that is part of a cost-cutting plan, the lender said on Thursday.

The bank will make a final decision on how many jobs to cut at the end of this month, a spokesman for Bank Austria said.

UniCredit announced in December that it would restructure Bank Austria, seeking cost savings of 300 million euros ($335 mln) by 2018, but it has not set a target for job cuts.

"There are 959 employees in total," the spokesman said, referring to the number of staff members who have registered their interest in accepting the company's redundancy package with Austria's unemployment service, as required by law.

The Austrian bank had 6,739 full-time-equivalent employees at the end of June, according to its half-year results.

The lender has not provided specific figures on the cost of the redundancy package. The employees would leave the company by the end of next year. ($1 = 0.8964 euros) (Reporting by Francois Murphy; Editing by Susan Fenton)

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