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Report: PostFinance mulls 500 job cuts by 2020

PostFinance AG is planning to cut 500 full-time jobs by 2020 due to eroding profit margins and a decline in revenues, the news website Swissinfo.ch reported, citing a statement by the bank.

The steering committee of the Swiss postal service's bank will make a final decision on the job cuts by August. It expects to create a number of new jobs around the same time.