Type
Internal restructuring
Country
Czechia
Region
Location of affected unit(s)
Sector
Financial Services
Financial And Insurance Activities
Financial Service Activities, Except Insurance And Pension Funding
64.19 - Other monetary intermediation

155 jobs
Number of planned job losses
Job loss
Announcement Date
11 January 2012
Employment effect (start)
Foreseen end date
31 March 2012

Description

GE Money Bank, provider of financial products, is to dismiss about 155 people by the end of March 2012. The downsizing will affect support service divisions and managerial positions. The firm, facing international competition, wants to increase effectiveness at the global market.

GE Money Bank, a division of multinational conglomerate General Electric, currently employs about 2,600 people.


Sources

  • 11 January 2012: Hospodárske noviny

Citation

Eurofound (2012), GE Money Bank, Internal restructuring in Czechia, factsheet number 73188, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/73188.