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 64.1 - Monetary intermediation
250 jobs Number of planned job creations
Announcement Date
5 May 2008
Employment effect (start)
Foreseen end date
Description
HypoVereinsbank, one of the largest banks in Germany and member of the UniCredit group, plans to move some of its activities to Poland, where 250 jobs will be created. As of May 2008, there is no information on when the new jobs will be created by. The relocation of production to Poland is due to lower labour costs prevailing in this country; according to HypoVereinsbank's estimates, the annual cost of retaining a Polish employee is EUR 25,000, whereas the cost of her/his German counterpart is 70% more.
Sources
5 May 2008: Rzeczpospolita
Citation
Eurofound (2008), HypoVereinsbank, Business expansion in Poland, factsheet number 66592, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/66592.
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