Sweden’s Biggest Bank Says Cost Cuts to Hit 1,000 Employees

SectorFinancial Services

Svenska Handelsbanken AB unveiled a series of cost cuts as part of a digital revamp it says will affect about 1,000 employees.Sweden’s biggest bank intends to almost halve its branch network, which has long been a hallmark of its business model, according to a statement on Wednesday. At the same time, management will invest about 1 billion kronor ($114 million) in technology, it said. ...read more...