By Andrei Skvarsky
Russia’s Alfa Group plans to start hiring new staff this year for its corporate loan division and various retail services after cutting it its banking division in 2008 and 2009.
Alfa reduced its banking personnel by 15 percent in the wake of the financial crisis, with the most cuts falling on the conglomerate’s corporate loan, auto loan and mortgage departments, according to a report in RBK Daily.
According to Anton Yefremov, senior partner in Russia of audit and consulting group BDO, personnel cuts of between 10 and 15 percent have been typical of the country’s banking sector since the crisis broke out.
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