Hypo Alpe Adria Bank International

Type
Internal restructuring
Country
European Union
Region
Location of affected unit(s)
Sector
Financial / Insurance/ Estate
64 - Financial service activities, except insurance and pension funding
64 - Financial service activities, except insurance and pension funding
64 - Financial service activities, except insurance and pension funding
2,100 jobs
Number of planned job losses
Job loss
Announcement Date
23 April 2009
Employment effect (start)
23 April 2009
Foreseen end date
31 December 2013

Description

According to the Austrian newspaper Der Standard, the Hypo Alpe Adria Bank International group is to cut by 2013 2,100 of the currently 8,000 jobs in 13 central and south-eastern European countries. These redundancies have been ordered by the German Bayern Landesbank, which holds the majority of the shares of the Hypo group.

Sources

  • 23 April 2009: Der Standard ()

Citation

Eurofound (2009), Hypo Alpe Adria Bank International, Internal restructuring in European Union, factsheet number 68992, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/68992.