William Malcolm

Home Credit To Lay Off Half Of Worldwide Staff

The Home Credit Group, which provides consumer loans, had to halve the number of employees worldwide after last year’s slump, about 60,000. According to an interview on Seznam Zprávy by Ladislav Bartoníček, who was entrusted with the PPF group’s management, to which Home Credit belongs, after billionaire Petr’s death, Kellner.

Home Credit states on its website that by mid-2019, it had over 123,000 employees. Home Credit fell to a loss of 15.3 billion crowns last year due to the crisis caused by the COVID-19 pandemic.

“We responded by dramatically cutting operating costs in China, significantly reducing the volume of new business, and focusing on clients with a much better risk profile to keep the risk under control,” Bartoníček said.

Petr Kellner, who owned over 98 percent of PPF’s shares, died in Alaska’s helicopter crash on March 27. Bartoníček holds 0.535 percent of the shares in PPF, and the current CEO of Home Credit, Jean-Pascal Duvieusart, has the same stake.