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 64.9 - Other Financial Service Activities, Except Insurance And Pension Funding
300 jobs Number of planned job losses
Announcement Date
27 September 2024
Employment effect (start)
27 September 2024
Foreseen end date
Description
As announced on 27 September 2024, 300 jobs will be cut following the sale of the bank Berlin Hyp to Landesbank Baden-Württemberg (LBBW) due to the consolidation of business areas.
The commercial real estate business will be integrated into LBBW under the Berlin Hyp brand. Job cuts will occur equally at both Berlin Hyp and LBBW. The goal is to seek socially responsible solutions, and layoffs due to operational reasons are to be avoided. Some jobs will be eliminated due to demographic changes, while other employees will be offered positions within the group.
Together, the banks employ around 11,000 people, 680 of whom work at Berlin Hyp.
Eurofound (2024), Landesbank Baden-Württemberg, Merger/Acquisition in Germany, factsheet number 201695, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/201695.
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