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
400 - 1,000 jobs Number of planned job losses
Announcement Date
2 February 2018
Employment effect (start)
2 February 2018
Foreseen end date
20 February 2018
Description
Piraeus Bank has announced a plan of voluntary redundancies, which starts on 2 February 2018 and ends on February 20. The plan provides compensation of up to 61 monthly salaries to the workers concerned and targets the exit of up to 1000 people. This is one of the tools used by Piraeus Bank to reduce its operating costs. Different possibilities are offered including early retirement, with the most generous allocations provided for those over 57 years of age, long-term leave and extended maternity leave options.
Sources
2 February 2018: insider.gr
2 February 2018: banking.news
Citation
Eurofound (2018), Piraeus Bank, Internal restructuring in Greece, factsheet number 93198, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/93198.
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