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 64.1 - Monetary intermediation
120 jobs Number of planned job losses
Announcement Date
15 December 2016
Employment effect (start)
15 December 2016
Foreseen end date
31 December 2018
Description
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.
Sources
15 December 2016: Sparkasse Förde press release
16 December 2016: cash-online.de
Citation
Eurofound (2016), Sparkasse Förde, Internal restructuring in Germany, factsheet number 89644, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/89644.
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