Restructuring events
European Restructuring Monitor (ERM)
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.
German savings bank Erzgebirgssparkasse will cut at least 89 jobs in Saxony. This is due to the closure of 38 branches.
The bank is responding to a changing consumer behaving, which shows a tendency towards online banking and the use of ATMs.
The job cuts include 65 full-time and 24 part-time positions. As stated by a spokesperson of worker representatives, at least another 23 fixed-term positions are to expire.
The bank aims to avoid forced redundancies.
Eurofound (2013), Erzgebirgssparkasse, Internal restructuring in Germany, factsheet number 76194, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/76194.