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
200 jobs Number of planned job losses
Announcement Date
6 October 2016
Employment effect (start)
6 October 2016
Foreseen end date
31 December 2019
Description
Savings-bank Sparkasse Hannover announced to cut up to 200 jobs by the end of 2019. Furthermore, 20 out of 99 branches in the greater area of Hanover will be closed. The bank is struggling withlow-interest phase like many other banks too, see (Commerzbank, 2016) and (Deutsche Bank, 2015).
The management will avoid direct dismissals and implement socially acceptable solutions. The savings-bank is just about to complete their latest implementation of 240 job cuts, that is to be completed by the end of October 2016, see (Sparkasse Hannover, 2013). In total, Sparkasse Hannover employs 2,102 staff.
Sources
6 October 2016: Sparkasse Hannover Press Release
6 October 2016: Handelsblatt (online)
Citation
Eurofound (2016), Sparkasse Hannover, Internal restructuring in Germany, factsheet number 88862, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/88862.
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