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Downsizing of Icelandic Banks Disproportionately Affects Women

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Downsizing of Icelandic Banks Disproportionately Affects Women

Landsbankinn

Photo: Páll Stefánsson.

Icelandic banks have reduced staff by nearly 1,500 and closed more than 60 branches over the last ten years, RÚV reports. Of these 1,500 employees 1,100, or 73 percent, are women.

Branches have been closed at an even greater rate. While there were 146 around the country in 2008, they now number just 84.

Over the past six years, banks and savings banks in Iceland have decreased by about a third. Branches in the Reykjavík capital area have decreased from 37 to 21, while regional branches have decreased from 99 to 63.

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