Aktia Bank cuts 92 jobs, Valmet Auto extends furloughs

Banking group Aktia has wrapped up redundancy talks launched in September. As a result 92 jobs will be eliminated, while about 50 employees will be offered new positions within the group.

Originally Aktia predicted that the negotiations would lead to a loss of up to 110 jobs. The talks involved 380 employees.

Along with staff reductions, the bank will consolidate its network of branch offices. The bank now serves some 310,000 customers at 32 branch offices.

Of these, 18 will either be merged with others or possibly sold off to independent operators. Some branches in small towns will be replaced with “new customer meeting points available by appointment”. The changes will begin taking place in January.

Aktia estimates that the cost-cutting measures now implemented will trim annual expenditures by about three million euros.

According to Carola Nilsson, director of the Private Customers division, Aktia is seeking growth in larger cities and “concentrating our competence to these growth areas”. It will also centralise and beef up some operations in the west-coast city of Vaasa.