By Andrei Skvarsky.
Otkritie has decided to cut its personnel by 10%, following other Russian banks that have embarked on redundancy schemes.
About 700 people would let go in a redundancy wave that would roll through all divisions of Otkritie and is expected to enable the Moscow-based firm to reduce its spending by between 15% and 20%, according to RBC Daily.
Earlier, VTB revealed a plan to slash its headcount by one-third by the end of 2013, and Renaissance Group said it would dismiss 10% of its employees.
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