Restructuring events
European Restructuring Monitor (ERM)
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.
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.
Eurofound (2011), Hypo Vereinsbank, Internal restructuring in Germany, factsheet number 72718, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/72718.