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
200 jobs Number of planned job losses
Announcement Date
19 March 2017
Employment effect (start)
19 March 2017
Foreseen end date
19 March 2022
Description
On 19 March 2017, Swedish bank SEB announced to cut about 200 out of 500 jobs in Germany by 2022. The financial service provider already cut a total of 200 jobs since 2016.
The job cuts form part of a restructuring programme which aims to strengthen the company's activities in corporate financing and the infrastructure business. Further business parts like the capital market operations, the deposit business and bonds will be cut back or given up entirely.
Branches in Dusseldorf and Hamburg have been closed already. The company however has no plans for leaving the German market completely.
The SEB Group currently employs about 16,000 employees across 20 countries worldwide.
Sources
19 March 2017: Reuters
19 April 2017: Handelsblatt
Citation
Eurofound (2017), SEB Deutschland, Internal restructuring in Germany, factsheet number 90695, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/90695.
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