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 - Financial service activities, except insurance and pension funding
820 jobs Number of planned job losses
Announcement Date
28 July 2011
Employment effect (start)
Foreseen end date
15 December 2015
Description
On November 14, 2011, Hypo Vereinsbank, part of the Unicredit group, reported a planned reduction of 820 jobs in Germany. This results from a policy of cutbacks and includes 600 employees in Munich headquarter and 370 in the investment banking branch, 220 of them in Germany.
The restructuring is part of worldwide cuts of the mother company Unicredit. Hypovereinsbank currently employs 18.000 in Germany.
Sources
16 November 2011: Handelsblatt
16 November 2011: Financial Times Deutschland
28 July 2011: Handelsblatt
Citation
Eurofound (2011), Hypo Vereinsbank, Internal restructuring in Germany, factsheet number 72718, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/72718.
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