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 Activities Auxiliary To Financial Services And Insurance Activities Activities Auxiliary To Financial Services And Insurance Activities 66 - Activities auxiliary to financial services and insurance activities
600 jobs Number of planned job losses
Announcement Date
21 July 2006
Employment effect (start)
Foreseen end date
31 December 2008
Description
The Finanz IT which provides IT-services for the Sparkassen Finanzgruppe, an association of some 460 independent saving banks and 11 saving banks of the federal states (Landesbanken) announced a cost-cutting programme involving the cut of 600 full-time and part-time jobs. According to the company it is not yet clear whether one of the sites in Hannover, Berlin, Leipzig and Saarbrücken will be closed.
Sources
21 July 2006: Handelsblatt
Citation
Eurofound (2006), Finanz IT, Internal restructuring in Germany, factsheet number 63805, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/63805.
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