CSOB bank to sack several hundred employees

The Czech Republic’s biggest bank, CSOB, is planning to sack several hundred employees, the daily Mladá fronta Dnes reported. The bank’s press spokesman has confirmed that the bank is planning to take saving measures that include reducing staff numbers by several percent. There are currently around 10,000 people working in the bank, including the offices in Slovakia. CSOB is the only Czech bank so far which has announced plans to cut down its workforce.