VTB GROUP OPTIMIZES EXPENDITURES, FIRES EMPLOYEES

/PanARMENIAN.Net/
29.06.2009 19:15 GMT+04:00

/PanARMENIAN.Net/ Thousands of VTB Group employees were transferred
to another position or fired in the framework of optimization of
expenditures program, VTB Bank financial director Nikolai Tsekhomsky
said.

"Besides, recruiting of personnel to VTB Capital subdivision was
suspended," he said.

For his part, President of the Bank Andrey Kostin said the Bank is
likely to finish the fiscal year with losses, pleading deterioration
of macroeconomic situation. He also said that the bank destines the
income to create provisions.