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
2,000 jobs Number of planned job losses
Announcement Date
13 June 2005
Employment effect (start)
1 July 2005
Foreseen end date
30 June 2008
Description
After Hypovereinsbank and Unicredito have agreed to merge, Hypovereinsbank has announced a new cost-cutting programme. On top of job losses announced in February 2005, the merger will lead to the loss of 2,000 jobs at the German operations of Hypovereinsbank. Merger-related job losses have also been announced for Eastern Europe, Italy and Austria. No announcements were made as to how the job-cutting is to be implemented.
Eurofound (2005), HypoVereinsbank, Internal restructuring in Germany, factsheet number 61748, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/61748.
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