Ceska sporitelna announced yesterday that it had laid-off nearly 1,300 employees this year; the bank’s staff thus stood at 12,845 at the end of August. CS reiterated its aim to have 12,000 employees by year-end 2001 and 10,000 in 2002. Given significant salary improvements this year, the positive effects of the staff reduction should be visible only in 2002.
(Jan Hájek)