Internal restructuring
Location of affected unit(s)
Financial Services
Financial And Insurance Activities
Financial Service Activities, Except Insurance And Pension Funding
64 - Financial service activities, except insurance and pension funding

400 jobs
Number of planned job losses
Job loss
Announcement Date
14 August 2006
Employment effect (start)
1 January 2006
Foreseen end date
31 December 2008


On 14 August 2006, the Aareal Bank AG, a real estate financing institute, announced to cut an additional 150 jobs within the next two years. Affected by the planned job reductions are its housing business and accounts department. At the moment, its housing business affiliates and accounts department employ 1600 persons. On 29 November 2005, Aareal Bank had already announced to reduce its workforce by a 250 employees within its holding company and reconfirmed this figure by now. The holding company employs 1250 persons so far. The Aareal Bank has run into the red in 2004. The job reductions are part of an overall restructuring scheme that aims to maximise the establishment's profit.


  • 15 August 2006: Financial Times Deutschland
  • 15 August 2006: Frankfurter Allgemeine Zeitung
  • : (www.handelsblatt.com)


Eurofound (2006), Aareal Bank, Internal restructuring in Germany, factsheet number 62631, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/62631.