Symbol go
GD         Turnover  mln.

NBG completes the VES in Greece with c1,200 employees participating


NBG’s VES acceptance period ended on December 22 with 1,200 employees reportedly participating. Note that the Greek lender was aiming at reducing its local personnel base by c8-12% or 1,000-1,500 employees.


As per NBG’s revised restructuring plan, approved by the DG Comp on December ’15, the bank has committed to reduce its maximum number of employees by c17% or 2,063 employees to 9,950 by end-2018.


Assuming that c1,000 employees will depart through the upcoming VES, this implies that another 9% or 1,000 employees will leave the bank through the sale of non-core business assets.

Follow to Social Media
  Did you find this article interesting?: