Privatbank plans to close more than 300 branches and lay off employees

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Privatbank plans to close more than 300 branches and lay off employees

31.08.2021 News

By 2024, more than 300 branches of Privatbank will be closed; more than six thousand employees will be fired. Such measures are spelled out in the financial institution’s development strategy approved by the Cabinet of Ministers.

It is noted that the bank should leave 1250 branches (according to data for 2020, 1688 of them), and they will be served by about 15.5 thousand employees. This optimization precedes the privatization of the bank.

The trade union of Privatbank opposed the dismissals – they offer to optimize the costs of other items of expenditure. In particular, it is about the maintenance of the fleet, security and the cost of PR and work with the media.

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