IKB Deutsche Industriebank

Type
Internal restructuring
Country
Germany
Region
Location of affected unit(s)
Sector
Financial / Insurance/ Estate
64 - Financial service activities, except insurance and pension funding
64.1 - Monetary intermediation
64.1 - Monetary intermediation
200 jobs
Number of planned job losses
Job loss
Announcement Date
8 February 2012
Employment effect (start)
1 January 2012
Foreseen end date
31 December 2014

Description

IKB Deutsche Industriebank, a German financial service provider for small and medium enterprises, is reported to cut 200 out of 1,130 posts between 2012 and 2014. This is reported by the German Newspaper Handelsblatt.

Since 2007, when IKB was saved by public subsidies, the bank has cut about a quarter of all positions. The bank is now held by a private equity company Lone Star which aims at selling it.

Sources

  • 8 February 2012: Handelsblatt

Citation

Eurofound (2012), IKB Deutsche Industriebank, Internal restructuring in Germany, factsheet number 73059, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/73059.