LHV Pank to Cut Up to 60 Jobs in Latvia
Estonian Bank to Cut Up to 60 Jobs Amid Efficiency Drive
Tallinn, Estonia – LHV Pank, a leading Estonian bank, announced plans to eliminate up to 60 jobs in the first quarter of 2025 as part of a broader effort to enhance operational efficiency.
The bank cited rising capital requirements and declining interest rates as key drivers behind the decision.
“Through technological advancements, process automation, streamlining management layers, and consolidating responsibilities, LHV Pank aims to reduce its workforce by up to 60 positions by the first quarter of 2025,” the bank stated in a press release.
Kadri Kīzele, CEO of LHV Pank, emphasized that technology is enabling the bank to achieve its next phase of growth with a smaller workforce.
Despite the restructuring, the bank’s overall strategy and objectives remain unchanged.
Founded in 1999, LHV Pank is a privately-held estonian bank and part of the LHV Group.
Estonian bank Leans on Tech, Cuts 60 Jobs
Tallinn, Estonia – Facing rising capital requirements and declining interest rates, LHV Pank is restructuring to boost efficiency.The Estonian bank announced plans today to eliminate up to 60 positions by the first quarter of 2025. This move comes despite assurances that the bankS overall strategy remains unchanged.
LHV Pank CEO Kadri Kīzele stated that technological advancements are key to this streamlining. “Through technological advancements, process automation, streamlining management layers, and consolidating responsibilities, LHV Pank aims to reduce its workforce by up to 60 positions by the first quarter of 2025,” the bank said in a press release.
Kīzele emphasized that these changes will allow the bank to achieve its growth objectives with a leaner team.
Founded in 1999, LHV Pank is a privately held Estonian bank and part of the LHV Group.