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
100 jobs Number of planned job losses
Announcement Date
24 April 2017
Employment effect (start)
24 April 2017
Foreseen end date
31 December 2018
Description
Raiffeisenlandesbank Lower Austria and Vienna, RLB NÖ-Wien, is cutting 100 jobs by the end of 2018 reportedly due to net losses of €64 millionen in 2016.
The bank has announced restructuring measures aiming to reduce staff from currently 1,100 to below 1,000. The write-downs of investments in the Raiffeisen Zentralbank (RZB) holding are given as reason for RLB NÖ-Wien's negative performance. Restructuring measures do not only include job cuts but also a reduction of trade in securities and a stronger focus on customer business.
The company has already agreed on a social plan for affected employees with the works council. According to newspapers, especially older employees are among those made redundant.
Sources
24 April 2017: Der Standard
26 April 2017: Die Presse
26 April 2017: orf online
Citation
Eurofound (2017), Raiffeisenlandesbank Niederösterreich-Wien, Internal restructuring in Austria, factsheet number 90959, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/90959.
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