Moscow, Sept 7: One of Russia's biggest banks, state-owned Vneshtorg bank, is planning to reduce its staff as a result of the financial crisis, a bank official said on Monday.``We are now thinking over how many should be laid off,'' spokesman Yuri Tavrovsky told Reuters.
Another bank source, who asked not to be named, said the reductions would amount to 50 per cent of the bank's personnel.
Last week, another big Russian bank, Menatep , set an initial 30 per cent figure for redundancies as a result of the bank's merger with Unexim Bank and Most-Bank.
Russia's crisis has crushed local financial markets and drained the liquidity of many banks.
Copyright © 1998 Indian Express Newspapers (Bombay) Ltd.
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