Belgian-French Dexia to cut 665 jobs
Posted: September 22nd, 2010 | Author: dubaidude | Filed under: Belgium, France | Tags: Belgium, Dexia, France | No Comments »Belgian-French financial services group Dexia said on Wednesday it would cut 665 jobs as part of a cost-savings plan, leaving it with 80 million euros of cuts to meet its target.
The job cuts are slightly less than Belgian media had been speculating.
The measures are part of a three-year 600 million euro ($778 million) cost savings plan announced in 2008 that Dexia is implementing after being bailed out during the credit crunch.
It has already achieved 360 million euros of cost cuts, with the loss of 1,500 workers, and the new job losses would contribute to saving a further 160 million euros.
From: ForexYard
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