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

170 jobs
Number of planned job losses
Job loss
Announcement Date
15 August 2012
Employment effect (start)
Foreseen end date
15 August 2012

Description

The Romanian subsidiary of Volksbank announced collective dismissal of 170 employees as a part of the restructuring plan approved in 2012.

The measure was motivated by reported substantial financial losses in 2011. The dismissed employees will receive compensation payments.

At the end of 2011 Volksbank Romania employed 1,467 people.


Sources

  • 16 August 2012: Ziarul Financiar

Citation

Eurofound (2012), Volksbank Romania, Internal restructuring in Romania, factsheet number 74080, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/74080.