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.
National Bank of Greece has announced a new plan of voluntary redundancies. The application procedure started on 13 May and finished on 10 June. The restructuring plan aims to make 1,000 employees redundant, specifically those who are over 30 years and work at least three years in the bank.The plan provides for compensation up to €170,000. This programme is indeed a prolongation of the previous programme of voluntary redundancies of 780 people which finished in March 2019. The voluntary redundancies intend to reduce operating costs. However, only 338 employees have applied to be included in the current voluntary retirement programme.
In 2016, NBG has announced a similar voluntary exit programme that affected at least 1,350 employees.
Eurofound (2019), National Bank of Greece, Internal restructuring in Greece, factsheet number 98137, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/98137.