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
120 jobs Number of planned job losses
Announcement Date
26 September 2013
Employment effect (start)
26 September 2013
Foreseen end date
31 December 2017
Description
The Raiffeisen Zentralbank RZB, the central bank of the Raiffeisen banking group Austria, is to centralise the activities of eight subsidiaries and therefore shedding at least 120 jobs. This corresponds to 10% of its current workforce. The aim of the restructuring programme is to reduce costs by about €25 million per year. Duplication of activities is to be prevented, e.g. marketing or public relations activities of the subsidiaries are to be transferred to the central RZB. Between 400 and 500 employees will be shifted within the group, starting in July 2014. The 120 jobs that will be lost during this rationalisation programme (which will run until 2017) will take the form of natural attrition.
Sources
26 September 2013: Der Standard
26 September 2013: Die Presse
Citation
Eurofound (2013), Raiffeisen Zentralbank RZB, Internal restructuring in Austria, factsheet number 75937, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/75937.
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