Scotiabank in Costa Rica
To Cut 200 Jobs
Many argue that Costa Rica is not a financial crisis, however, the
200 employees of the Scotiabank in Costa Rica that are being laid
off may have a differing opinion.
The private bank yesterday confirmed the massive job cuts, which
according to the bank, the first to be notified of the cuts were in
managerial positions, telling the employees that the current
economic situation is not sustainable and job cuts are necessary to
reduce costs.
The rest of the employees will be formally notified today, a bank
spokesperson said.
Scotiabank is part of The Bank of Nova Scotia financial institution
with head offices in Toronto, Canada.
With more than 10 years in the Costa Rican market, Scotiabank became
the largest private bank when it purchased Banco Interfin two years
ago.
Scotiabank, up to two weeks ago, assimilated all the Interfin
branches, in some cases having two or more branches within a couple
of kilometres of each other, as the two banks were head to head in
competition before the fusion.
However, two weeks ago, Scotiabank closed the first two branches
deemed redundant in the current economic situation.
The bank last week also announced the end of overtime for its
employees.
|
|
|
|
|
|
|
