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.
Austrian-owned Raiffeisen Bank has announced that it will lay off 15% of its workforce in Hungary. 330 jobs will be lost by the end of 2016. They will cut the number of branches in the country from 112 to 67. According the CEO, the company will refocus on corporate clients and electronic channels. Costs will be cut by approximately 20%.
Eurofound (2015), Raiffeisen Bank, Internal restructuring in Hungary, factsheet number 79891, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/79891.