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
300 jobs Number of planned job losses
Announcement Date
13 December 2011
Employment effect (start)
14 December 2011
Foreseen end date
Description
On 14 December Swedbank announced that it will reduce its workforce by 300 jobs in Sweden and further 300 jobs in the Baltic countries. The internal restructuring process is due to saving requirements by approximately SEK 330m (about 34.8M€ as of 15 December 2011).
As of 15 December, there is no information on how many employees with permanent contracts will be dismissed or when the restructuring will be concluded. It is however reported that the cuts mainly will concern large corporate and institutions divisions and that some employees will leave due to retirements.
Swedbank is one of Sweden's largest banks with 8200 employees. Swedbank has substantially reduced its workforce in the last couple of years: In mid-2009, they had announced 3600 job cuts across the EU (see here).
Sources
14 December 2011: Dagens Industri
14 December 2011: Svenska Dagbladet
Citation
Eurofound (2011), Swedbank, Internal restructuring in Sweden, factsheet number 72846, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/72846.
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