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 64.19 - Other monetary intermediation
1,500 jobs Number of planned job losses
Announcement Date
13 March 2014
Employment effect (start)
13 March 2014
Foreseen end date
Description
HypoVereinsbank, a German subsidiary of Italian Unicredit, will cut 1,500 jobs in Germany.
This is due to the closure of 300 of its current 600 branches that is a result of the trends towards digitalization and the decreasing importance of face-to-face services in stores.
Talks with worker representatives are in the process.
In March 2013, the ERM reported on the bank’s previous plans to close 46 of 610 branches and to make 800 people redundant.
Sources
13 March 2014: Merkur Online
13 March 2014: Frankfurter Allgemeine Zeitung
Citation
Eurofound (2014), HypoVereinsbank, Internal restructuring in Germany, factsheet number 76715, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/76715.
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