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
1,500 jobs Number of planned job creations
Announcement Date
7 August 2006
Employment effect (start)
1 August 2006
Foreseen end date
31 December 2010
Description
The German bank for private real estate financing Schwäbisch Hall announced to increase its current sales staff of 4,000 by 1,500 until 2010 to reach a market share of 30% in Germany. Schwäbisch Hall is a subsidiary of the Deutsche Genossenschaftszentralbank, the German association cooperative banks. Historically, cooperative banks have been strong in the countryside. Schwäbisch Hall now plans to strengthen its presence in large cities by increasing its sales personnel. About half of the 1500 new sales agents shall work at existing Schwäbisch Hall locations (offices), the other 750 are expected to establish their own offices. In all likelihood this means they will not be employed by the bank but have the status of self-employed. However, there is no precise information available on this issue.
Sources
8 August 2006: Frankfurter Allgemeine Zeitung
Citation
Eurofound (2006), Schwäbisch Hall, Business expansion in Germany, factsheet number 63906, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/63906.
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