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 28 March 2017, financial services provider Evangelische Bank, which specialises on churches, deaconries, health and social businesses, announced to cut about 100 jobs in Germany by 2021. The bank explained that the job cuts were necessary in order for it to stay sustainable. The restructuring will affect the entire internal structure which will be optimised in light of digitalisation.
A social plan has already been adopted and includes several measures to support the affected employees. These include individual application training, further qualifications as well as arranging jobs within client companies.
At the moment Evangelische Bank employs 480 employees at 14 sites across Germany.
Eurofound (2017), Evangelische Bank, Internal restructuring in Germany, factsheet number 90698, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/90698.