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 - Financial service activities, except insurance and pension funding
300 - 600 jobs Number of planned job losses
Announcement Date
22 January 2018
Employment effect (start)
22 January 2018
Foreseen end date
2 February 2018
Description
Banking group Eurobank has announced a new plan of voluntary redundancies, applications for which start on 22 January 2018 and concludes on February 2. The plan provides compensation of up to 50 months of salary for older workers. It targets the exit of 500-600 people and is intended to reduce operating costs. Alternative possibilities include part-payment of salary for departing workers over period of 2-3 years.
Sources
22 January 2018: tovima.gr
22 January 2018: insider.gr
Citation
Eurofound (2018), Eurobank , Internal restructuring in Greece, factsheet number 93199, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/93199.
Digitisation and automation technologies, including artificial intelligence (AI), can affect working conditions in a variety of ways and their use in the workplace raises a host of new ethical concerns.
The retail banking sector is fertile ground for studying the impacts of digitalisation on work and employment. Financial services are increasingly provided online, without the intermediary of customer-facing institutions.
European labour markets have recovered strongly from COVID-19. By the end of 2021, little more than 18 months after the start of the pandemic, employment rates in the EU were almost at pre-crisis levels.
