Česká spořitelna to lay off hundreds of managers and other employees

Česká spořitelna (CS) will lay off several hundred employees in the next nine months. According to the bank's spokesman Filip Hruby, this will include managers and employees in support and service positions, the E15.cz website reported. The reason for this, according to the savings bank, is the changing needs of clients who prefer online services. Therefore, the bank wants to hire new employees for information technology and client care. As of June this year, about 10,000 people worked at CS.

According to the server, Česká spořitelna will get rid of lower hundreds of employees in the next nine months. "The current change in the number and structure of employees is primarily a reflection of the significant changes that are occurring in the needs and expectations of clients," Hrubý told E15. He added that the departing managers and employees have a team of HR specialists who provide them with assistance and support in finding new jobs on the market.

According to Hruby, CS focuses on improving clients' financial health through digital and personal advice. To this end, the bank is also looking to recruit around 100 new IT and customer care staff. Hruby said the bank does not plan any major branch closures due to the increased use of online services.

ČS is the largest bank in the Czech Republic by number of clients, with 4.5 million last year. It is owned by the Austrian financial group Erste. In the first half of this year, the bank's net profit fell 16 percent year-on-year to CZK 9.3 billion. Operating profit fell 17.3 percent to CZK 12.3 billion in the same period. As of June this year, the savings bank employed 9,992 people.

Source: E15.cz, Česká spořitelna and CTK