Restructuring events
European Restructuring Monitor (ERM)
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.
HSBC Transaction Services, a German subsidiary of the British bank HSBC, is to be wound up by 2028. The transaction service bank is based out of Düsseldorf and this restructuring will result in the loss of 300 jobs by 2028.
This restructuring takes place because HSBC is shifting its focus towards Asian clients. Furthermore, some of its major customers switched to competitors in recent years.
The bank announced that the job cuts will be carried out in a socially responsible manner.
The entire subsidiary is ceasing its operations.
This restructuring is part of a larger operation that also affects other European countries HSBC 2026 - EU.
Eurofound (2026), HSBC Transaction Service, Internal restructuring in Germany, factsheet number 301194, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/301194.
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