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.
On 15 December 2016, German savings bank Sparkasse Förde announced to cut 120 jobs by the end of 2018. Sparkasse Förde is headquartered in Kiel and the largest bank of Schleswig-Holstein. The job cuts will be implemented in a socially acceptable manner and direct dismissals are to be avoided.
The management reported about difficult framework conditions due the low-interest phase and necessary adjustments through digitalisation. The management is also expecting a fall in income within the next years and will prepare the bank for the future.
Sparkasse Förde employs 1,020 employees at the moment.
Eurofound (2016), Sparkasse Förde, Internal restructuring in Germany, factsheet number 89644, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/89644.