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 64.11 - Central banking
225 jobs Number of planned job losses
Announcement Date
17 October 2015
Employment effect (start)
1 January 2016
Foreseen end date
31 December 2020
Description
Kreissparkasse München Starnberg Ebersberg, a German bank, will close four branches in Ottobrunn, Unterhaching, Taufkirchen und Oberschleißheim around Munich by the end of 2016. A total of 225 out of 1,800 jobs will be cut by 2020 but the bank wants to avoid redundancies. Additional 20 branches, including 12 in the Munich district, will be turned into fully automated self-service centres.
The closures are due to a decrease in transactions and fewer visits to its branches and a simultaneous increase in online banking. Openin ghours in the remaining branches will be extended to 7.30am to 7pm so that customers can pay a visit before or after work.
Kresissparkasse München Starberg Ebersberg is a publicly owned credit institution headquartered in Munich. It brings together 75 branches around Munich and about 1,800 employees nationwide.
Sources
17 October 2015: Merkur Online
16 October 2015: Süddeutsche Zeitung (Online)
Citation
Eurofound (2015), Kreissparkasse München Starnberg Ebersberg, Closure in Germany, factsheet number 85237, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/85237.
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