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
80 jobs Number of planned job losses
Announcement Date
10 November 2023
Employment effect (start)
10 November 2023
Foreseen end date
31 December 2028
Description
On 10 November 2023, private bank Metzler announced an internal restructuring plan, including the plan to cut around 10% of its 800 jobs in Germany, leading to the loss of 80 jobs.
The company stated that it wants to streamline its business portfolio and optimise processes by digitalising them. The overall goal was to increase efficiency. Against this background, job cuts had become necessary and would be carried out in a socially acceptable manner. Direct dismissals were ruled out by the bank. Instead, management seeks to reduce the headcount by not filling job vacancies and using early retirement schemes.
Eurofound (2023), Metzler, Internal restructuring in Germany, factsheet number 200519, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/200519.
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