| Close to three hundred lose their jobs |
| Monday, 23 March 2009 05:30 |
 All of the branches of SPRON will be closed and the clients directed to new Kaupthing. Close to three hundred persons will lose their jobs from SPRON and the savings banks following that the financial supervisory administration took over both companies.
"It looks to me that the majority will lose their jobs," says Fridbert Traustason, CEO of the employees of financial companies (SSF), about the takeover of FSA of SPRON and the savings banks. Around 180 persons worked for SPRON and a part of them will be transfered over to new Kaupthing and some will be tending to the consulting department of the liquidating committee. 60-70 persons worked for the savings banks. Close to three hundred bank workers are now adding to the 1300 bank workers that are already unemployed. "I look at this with horror, that this has happened. [...] IF we take the number of employees in the banks before this blimp started, then they were roughly 4000 persons, between 2003-2004," says Fridbert. He says that the next steps of the Employees of the financial companies (SSF) are to insure the earned rights of the employees that have lost their jobs.
News Article by Thorbjorn Thordarson Translated by Anya Original Article in Icelandics
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