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
250 - 400 jobs Number of planned job losses
Announcement Date
10 July 2020
Employment effect (start)
10 July 2020
Foreseen end date
31 December 2020
Description
Slovenska Sporitelna (SLSP), the largest Slovak bank, plans to dismiss about 10% of its workforce gradually, by the end of 2021. Around 400 out of almost 4,100 workers (at the end of 2019), are affected by the restructuring programme. Workforce reduction will concern mainly jobs in the headquarters. About 250 workers will be dismissed in 2020 and a further 150 in 2021. The restructuring is due to digitalisation and rationalisation of bank services. SLSP launched the process of digital transformation around two years ago, and the situation with the coronavirus pandemic has speeded up this process, said a bank representative.
Eurofound (2020), Slovenská sporitelna, Internal restructuring in Slovakia, factsheet number 101312, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/101312.
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.
