Israel's Bank Leumi says to cut more jobs after Q4 loss

March 31, 2015 5:01 PM

67 0

TEL AVIV, March 31 (Reuters) - Bank Leumi, Israel's second largest lender, swung to a surprise loss in the fourth quarter due to one-off items and higher expenses for credit losses.

After reducing its workforce by 1,000 employees over the three years to the end of 2014, the bank said on Tuesday it will implement another three-year efficiency plan to cut another 1,000 positions by the end of 2017.

Also read: Carl Icahn buys stake in software provider VMware: CNBC

Read more

To category page