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
450 jobs Number of planned job losses
Announcement Date
18 January 2012
Employment effect (start)
18 January 2012
Foreseen end date
31 December 2015
Description
As reported on January 18th, 2012, the federal state bank in Hesse and Thuringia Helaba will cut 450 of 3,200 jobs during the next four years at its Frankfurt, Kassel and Erfurt sites.
This is due to the bank's plans to reduce its costs by € 70 million. The bank announced that there will be no forced dismissals and the job reduction is to be realized by natural attrition. Forced redundancies cannot be implemented until 2015 due to an ongoing agreement on the safeguarding of jobs.
Sources
17 January 2012: Reuters Deutschland
18 January 2012: Frankfurter Allgemeine Zeitung
18 January 2012: Financial Times Deutschland
18 January 2012: Handelsblatt
Citation
Eurofound (2012), Helaba, Internal restructuring in Germany, factsheet number 72998, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/72998.
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