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 - Financial service activities, except insurance and pension funding
174 jobs Number of planned job losses
Announcement Date
24 February 2016
Employment effect (start)
15 March 2016
Foreseen end date
31 December 2017
Description
Alpha Bank, one of the leading financial institutions in Greece, has decided to implement a voluntary exit scheme for 174 employees.
According to Greek newspapers (February 24th, 2016) Alpha Bank is one of the four Greek core banks to implement a voluntary exit programme. The bank will complete the planning stage and submit its voluntary redundancy programme to the Hellenic Financial Stability Fund (HFSF) for the necessary approval in the next few weeks. The new round of expenditure cuts in terms of reducing staffs, branches and operating costs is in accordance with the restructuring plans that the bank's management has agreed with the European Commission’s competition authorities.
Alpha Bank, is one of Greece's largest private banks, with a wide network of over 1,000 service units in Greece and one of the highest capital adequacy ratios in Europe.
Sources
24 February 2016: Imerisia
Citation
Eurofound (2016), Alpha Bank, Internal restructuring in Greece, factsheet number 86588, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/86588.
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