In addition to this natural reduction, 200-300 persons will be left without work despite the joint efforts with the employee representatives to reduce the need for lay-offs. The reductions are in accordance with the earlier stated long-term flat cost target. The personnel demand in Nordeas Finnish operations will be some 8,000 in the end of 2004, excluding subsidiaries, ie about 700 persons fewer than in the end of 2003.
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