Internal restructuring
Location of affected unit(s)
Financial Services
Financial And Insurance Activities
Financial Service Activities, Except Insurance And Pension Funding
64.11 - Central banking

800 jobs
Number of planned job losses
Job loss
Announcement Date
29 November 2021
Employment effect (start)
29 November 2021
Foreseen end date
15 December 2021


The National Bank of Greece, a global financial banking service company based in Athens, has announced a new voluntary retirement program for those aged over 40 years with seven years of work in the company for the remains of 2021. The program will target around 800 employees. It will start on November 29th and will affect exclusively the employees making up the branch network and the network addresses of the bank. It is part of a restructuring plan aimed to bring in a new, younger workforce. The employees affected may either depart promptly and receive their compensation by the end of the year or receive a long-term payment of maximum €180,000. The younger the retiring employees the higher the compensation rate.

Founded in 1841, the National Bank of Greece operates in several other countries such as North Macedonia and Malta.

Previous business restructuring was recorded in the ERM database in 2020, with a voluntary retirement program affecting 1,000 employees (National Bank of Greece-2020-GR).



Eurofound (2021), National Bank of Greece, Internal restructuring in Greece, factsheet number 106800, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/106800.