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
980 jobs Number of planned job losses
Announcement Date
28 March 2019
Employment effect (start)
30 June 2019
Foreseen end date
31 December 2022
Description
The Hamburg Commercial Bank, the former state bank of the states of Hamburg and Schleswig-Holstine, privatised in 2018, announced a jobs cut programme. Major jobs cutting plans were announced by the end of 2018 as part of an ongoing restructuring process but numbers were not confirmed. From 30 June 2019 to the end of 2022 the number of positions (in full time equivalents) shall decrease from 1,630 positions to 950 in Hamburg and Kiel. In Kiel, the former financial institutions will be completely restructured to serve as an IT and service point. Out of the current 500 positions, 200 will remain.
Eurofound (2019), Hamburg Commercial Bank (HCOM), Internal restructuring in Germany, factsheet number 98448, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/98448.
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