Restructuring events
European Restructuring Monitor (ERM)
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.
The Austrian BAWAG PSK retail bank is to cut 200 jobs in Austria, to increase its efficiency. Branch employees and bankers who have been with the bank for a long time were affected. Employees who accept the farewell package can also be included in the banking foundation ("Branchenstiftung Finance"). The foundation is financed by the banking sector and co-financed by the AMS and, for Vienna, by the waff.
According to the annual report, the bank had an average of 4,201 employees or 3,580 full-time equivalents in 2020. The number of "active employees" (excluding employees on maternity leave or those included in the social plan concluded in 2018) was 3,118. In 2019, the bank had 4,367 employees or 3,694 full-time equivalents.
Eurofound (2021), Bawag PSK, Internal restructuring in Austria, factsheet number 106371, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/106371.