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.
Information / Communication Computer Programming, Consultancy And Related Activities Computer Programming, Consultancy And Related Activities 62 - Computer programming, consultancy and related activities
250 jobs Number of planned job losses
Announcement Date
30 September 2004
Employment effect (start)
30 September 2004
Foreseen end date
Description
Gesellschaft fur Zahlungsssyteme (GZS), Germany's largest credit card processing systems specialist, is to carry out 250 redundancies out of a total workforce of 1,138 in the course of its restructuring, according to a company source. GZS is owned at 20% by the co-operative financial sector, 40% by public-sector saving banks and 40% by private-sector banks. In spite of the creation of an in-house credit card processor by the co-operative financial association, institutions within this association will continue to use the services of GZS for part of this field of activity.
Sources
30 September 2004: Frankfurter Rundschau
Citation
Eurofound (2004), GZS, Internal restructuring in Germany, factsheet number 60553, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/60553.
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