Scotiabank Cuts 200 Jobs in Costa Rica

The bank announced that the measure is necessary in order to lower costs in the face of the difficult economic situation.

Friday, February 27, 2009

The institution bought Interfin Bank two years ago and, with it, a great number of branches, some of them less than two kilometers away from one another.

Scotiabank closed the first two branches which were considered redundant two weeks ago due to the current economic outlook.

More on this topic

Want More Unemployment? Increase the Minimum Wage

March 2015

Trade unionists who promote it, the officials who estimate it, the rulers who decree it, are not part of the legion of unemployed who surely would work for less than the official minimum wage.


The unemployed have no voice, in principle because they do not pay a sindical fee, and if they did have one, they would not raise it, because it feels devoid of the dignity necessary to do so, because they are used to adopting a very humble position in job interviews. Nothing further impoverishes the human spirit that lack of gainful income of one form or another.

Layoffs in Costa Rica: Wal-Mart, Scotiabank and Florida

March 2009

Florida Beverage laid off 136 people, Wal-Mart 60 people and Scotiabank 10% of its payroll, as measures to face the economic crisis.

At Wal-Mart, the lay offs were in administrative levels, as part of the 200 jobs that it reduced at a regional level. The company, however, plans to create 1000 jobs in the region through the opening of 22 new stores.

ILO expects more unemployment in the region

January 2009

According to the latest report from the International Labour Organisation (ILO) less jobs will be created in 2009 due to the economic crisis. reports: "With growth forecasts of between 2% and 3% compared to the 5% average for the last five years, "the generation of jobs will be not be enough to meet the demand for labor and, hence, the levels of unemployment will probably increase" in the region, according to the Labor Panorama 2008 report".

Mabe cuts jobs in Costa Rica

November 2008

The Mexican appliance company, Mabe, that bought out the Costa Rican company, Atlas appliances, last February, cut back on employment in the country.

Diego Ariñano, General Manager of the company for Central America, confirmed that the decision was caused by decreased demand for appliances as a result of the world economic situation

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