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
400 jobs Number of planned job losses
Announcement Date
9 February 2024
Employment effect (start)
12 February 2024
Foreseen end date
26 February 2024
Description
The banking group Eurobank, has announced a new plan for voluntary redundancies. Applications were accepted from 12 February 2024 to 26 February 2024. The programme provides one-off compensation to €160,000 for immediate retirement which can reach €180,000 for certain categories of employees (in centralized units). The program provides additional three options for taking mandatory leave of 2, 5 and 7 years instead of immediate retirement, during which the employee is fully exempted from the obligation to be present and work at the bank. The ceiling for the lump sum in the 7-year mandatory leave reaches up to €250,000.
Participation in Eurobank's voluntary exit program was high with 600 employees applying for 400 exits. The Bank will decide how many requests to accept.
Eurofound (2024), Eurobank, Internal restructuring in Greece, factsheet number 200896, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/200896.
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