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
428 jobs Number of planned job losses
Announcement Date
15 July 2008
Employment effect (start)
Foreseen end date
31 December 2012
Description
On 15 July, Finanz IT and Sparkassen Informatik announced their merger resulting in the loss of 428 jobs by the end of 2012. Both companies provide IT-services for the Sparkassen Finanzgruppe, an association of some 460 independent saving banks and 11 saving banks of the federal states (Landesbanken). The new company is called Finanz Informatik. The merger of the two IT-services providers shall save EUR 201 million annually from 2012 onwards. As of July 2008, it is unknown the exact location of the affected units.
Sources
16 July 2008: Frankfurter Allgemeine Zeitung
Citation
Eurofound (2008), Finanz Informatik, Merger/Acquisition in Germany, factsheet number 66870, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/66870.
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