Friesland Bank to cut 250 jobs

The Friesland Bank is planning to cut 250 of its 1,160 full-time jobs, according to local paper the Leeuwarder Courant.

The paper says 190 jobs will go this year and 60 in 2010. Eight out of 23 branches are also scheduled for closure. Most of the jobs to be cut are in the processing and support services, the paper says.
The bank is expected to post the first loss in its hundred-year history on Thursday.
On Monday, the Financieele Dagblad reported that CEO Willem Cramer had resigned in March following a row over the bank’s independence.
The paper said Cramer had become convinced that the bank needed to find a partner to weather the turmoil in the financial markets. Rabobank and DSB were Cramer’s choice of partner, the paper says.

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