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BTA Bank to cut 25 percent of jobs

01 march 2012, 16:00
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Photo by Yaroslav Radlovskiy©
Photo by Yaroslav Radlovskiy©
BTA Bank has started optimizing its personnel and structure, Tengrinews.kz reports citing the bank’s press-service. The program’s target is to increase business efficiency and profitability of the bank.

“Implementation of the optimization program includes cutting 25 percent of the personnel. Axing the personnel and reforming the bank’s organizational structure will help slash the salary fund by 25 percent,” BTA Bank’s message states.

The optimization program will also involve an analyses of efficiency of the branches and the offices. After the check the least promising offices will be closed. Currently 12 percent of the offices are considered ineffective.

”Special work group of the bank’s most experienced top-managers developed the optimization program. They performed this work considering the strategy of further development of the financial institute and its improved business model,” acting chairman of the bank Askhat Beissenbayev says.

According to the bank’s message, the program is implemented as per the instructions of Kazakhstan President Nursultan Nazarbayev and the chairman of Samruk-Kazyna National Welfare Fund Umirzak Shukeyev. The President talked about optimization of the national companies on January 27, 2012.

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