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.
Raiffeisenbank, a Czech subsidiary of the Austrian Raiffeisen Bank International, has announced a reduction in the number of employees by 150 out of a total workforce of 3,500 people by the end of 2022. This is due to greater pressure for digitalization and weaker interest in mortgages. The layoffs will affect positions in administration, bank branches, as well as in IT. This decision reflects a long-term strategy of all retail banks in the Czech Republic to push costs down. According to the bank's CEO, Igor Vida, this is also related to Raiffeisenbank's acquisition of Equa bank last year.
Eurofound (2022), Raiffeisenbank, Internal restructuring in Czechia, factsheet number 107833, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/107833.