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BCP layoffs

A new restructured plan to sack 1,200 workers and close down 97 branches by 2017 was recently presented by the Portuguese bank Millennium BCP to the Portuguese Securities Market Commission (CMVM). It had already been revealed that the plan would envisage the sale of a Romanian subsidiary and a stake in Greece’s Piraeus, as well as BCP’s Polish subsidiary, Millennium MILP.WA, along with the bank’s operations in Angola and Mozambique.