Bloomberg the Company & Products

Bloomberg Anywhere Login


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Erste’s BCR to Cut 18% of Staff in 12-18 Months, Mediafax Says

Don't Miss Out —
Follow us on:

Dec. 17 (Bloomberg) -- Banca Comerciala Romana SA, Romania’s largest bank by assets, will cut about 18 percent of its workforce in the next 12 to 18 months, Mediafax reported today, citing Tomas Spurny, the lender’s chief executive officer.

The bank, majority owned by Austria’s Erste Group Bank AG, will close more than 60 unprofitable branches and fire 1,600 people to reduce its total workforce to 7,500 to adapt its business model to the “new economic reality,” the Bucharest-based news service quoted Spurny as saying. BCR targets a cost reduction of 250 million lei ($74 million) in the next two years, according to Mediafax.

To contact the reporter on this story: Irina Savu in Bucharest at

To contact the editor responsible for this story: James M. Gomez at

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.