The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Financial Services Financial And Insurance Activities Financial Service Activities, Except Insurance And Pension Funding 64 - Financial service activities, except insurance and pension funding
500 jobs Number of planned job losses
Announcement Date
7 September 2020
Employment effect (start)
7 September 2020
Foreseen end date
2 October 2020
Description
According to various publications, the banking group Eurobank has announced a plan for voluntary redundancies. Applications start from 7 September 2020 and finish on October 2, The bank's latest plan gives four options for one-off benefits or part-payment of salary for departing workers over a period of 2 or 5 years. The plan provides for the compensation of up to 150,000 euro. It targets the exit of 500 employees aged 40-50 years.
Digitisation and automation technologies, including artificial intelligence (AI), can affect working conditions in a variety of ways and their use in the workplace raises a host of new ethical concerns.
The retail banking sector is fertile ground for studying the impacts of digitalisation on work and employment. Financial services are increasingly provided online, without the intermediary of customer-facing institutions.
European labour markets have recovered strongly from COVID-19. By the end of 2021, little more than 18 months after the start of the pandemic, employment rates in the EU were almost at pre-crisis levels.
