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 Activities Auxiliary To Financial Services And Insurance Activities Activities Auxiliary To Financial Services And Insurance Activities 66.19 - Other activities auxiliary to financial services, except insurance and pension funding
100 jobs Number of planned job creations
Announcement Date
17 October 2019
Employment effect (start)
17 October 2019
Foreseen end date
31 December 2020
Description
Challenger bank N26 opened their first office in Vienna, in October 2019, creating 100 jobs by the end of 2020. The jobs will specialise in online payment and data-driven security systems. The hub has already hired 15 employees and will continue recruiting in the coming year. In the long run, the company aims to increase the number of employees to 300. The choice for Vienna as a new hub location is justified by the convenient connectivity to the main branch in Berlin and by the high living standards in the city, by which they hope to attract international high-tech professionals, primarily from Central and Eastern Europe.
Although the business has been founded by Austrians, this will be the company's first office in the country.
Eurofound (2019), N26, Business expansion in Austria, factsheet number 98965, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/98965.
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.
