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.
Raiffeisen Informatik, IT subsidiary of Raiffeisenbank, is to make up to 103 of its 850 employees redundant. This is due to a harmonisation of IT systems within the group.
At the end of October 2013, the first 68 employees were registered for termination with the Public Employment Service's (AMS) early warning registration system. In the following days, it was announced that in addition, the contracts of some 15 holders of a 'contract of work' (Werkvertrag), i.e. formally self-employed workers, who are nonetheless economically dependent, have not been extended. A further 15 to 20 will follow within the next weeks and months.
The union has criticised that half of the 68 workers registered with the AMS are over the age of 50.
Since 2011, Raiffeisen group has implemented several cost cutting programmes: Raiffeisenbank Reutte (2013), Raiffeisen Zentralbank (2013), Raiffeisen Bank International (2012), Raiffeisen Leasing (2011).
Eurofound (2013), Raiffeisen Informatik, Internal restructuring in Austria, factsheet number 76222, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/76222.