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MKB to lay off almost 300 this year

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Hungarian state-owned MKB Bank is planning to lay off approximately 300 employees this year, as a part of a reorganization launched last December, the lender told Hungarian news agency MTI.

The bank said it is not able to boost operating efficiency, with the current headcount. MKB noted that management positions have been cut by more than 30% since the beginning of the year. The Hungarian state acquired MKB from BayernLB last year.

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