Internal restructuring
Location of affected unit(s)
Financial Services
Financial And Insurance Activities
Financial Service Activities, Except Insurance And Pension Funding
64.1 - Monetary intermediation

200 jobs
Number of planned job losses
Job loss
Announcement Date
20 May 2021
Employment effect (start)
20 May 2021
Foreseen end date
22 July 2022


The Austrian BAWAG PSK retail bank is to cut 200 jobs in Austria, to increase its efficiency. Branch employees and bankers who have been with the bank for a long time were affected. Employees who accept the farewell package can also be included in the banking foundation ("Branchenstiftung Finance"). The foundation is financed by the banking sector and co-financed by the AMS and, for Vienna, by the waff.

According to the annual report, the bank had an average of 4,201 employees or 3,580 full-time equivalents in 2020. The number of "active employees" (excluding employees on maternity leave or those included in the social plan concluded in 2018) was 3,118. In 2019, the bank had 4,367 employees or 3,694 full-time equivalents.



Eurofound (2021), Bawag PSK, Internal restructuring in Austria, factsheet number 106371, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/106371.