OTP Bank in Serbia cuts number of branch offices and workers

The Executive Board of OTP Bank in Serbia has started reorganization of operations of that bank today (March 16, 2009) and announced closing of 11 branch offices.

According to the announcement, the draft programme for proclamation of surplus manpower in OTP Bank will be adopted by the end of March.

The workers declared as surplus manpower will get severance pays, while the employment and the self-employment support programmes will be implemented in association with the Provincial Secretariat of Labor and the National Employment Agency.

It has also been announced that the number of the organizational units and managerial positions in the bank’s headquarters will be reduced.