Brief: Íslandsbanki Reorganizes, To Lay Off Over 20 Employees
28/04/2026 11:34
April 28 (Reuters) - Islandsbanki hf ISB.IC: AS PART OF ORGANISATIONAL CHANGES NUMBER OF SENIOR MANAGERS IS REDUCED BY 15% IN 2026 AND NUMBER OF EXECUTIVE DIRECTORS BY 20% REDUCES DECISION-MAKING COMMITTEES FROM 11 TO 4 NUMBER OF EMPLOYEES WILL BE REDUCED BY JUST OVER 20, WITH REDUCTIONS OCCURRING PRIMARILY WITHIN BANK'S SUPPORT FUNCTIONS IN TOTAL, NUMBER OF FTES WILL DECREASE BY 50 OVER COURSE OF YEAR COST ASSOCIATED WITH EMPLOYMENT TERMINATIONS ANNOUNCED TODAY WILL BE RECOGNISED IN Q2 AND IS ESTIMATED AT ABOUT ISK 260 MILLION FINANCIAL IMPACT WILL BEGIN TO BE REFLECTED IN RESULTS OF Q3 OF 2026 AND TO BE FULLY REALISED IN 2027 EXPECTS ISK 1 BILLION ANNUAL PERSONNEL EXPENSE SAVINGS FROM CHANGES Source text: ID:nMFNc6GTdV Further company coverage: ISB.IC (Gdansk Newsroom) ((gdansk.newsroom@thomsonreuters.com; +48 58 769 66 00;))