Type
Internal restructuring
Country
Germany
Region
Location of affected unit(s)
Sector
Financial Services
Activities Auxiliary To Financial Services And Insurance Activities
Activities Auxiliary To Financial Services And Insurance Activities
66 - Activities auxiliary to financial services and insurance activities

600 jobs
Number of planned job losses
Job loss
Announcement Date
21 July 2006
Employment effect (start)
Foreseen end date
31 December 2008

Description

The Finanz IT which provides IT-services for the Sparkassen Finanzgruppe, an association of some 460 independent saving banks and 11 saving banks of the federal states (Landesbanken) announced a cost-cutting programme involving the cut of 600 full-time and part-time jobs. According to the company it is not yet clear whether one of the sites in Hannover, Berlin, Leipzig and Saarbr├╝cken will be closed.


Sources

  • 21 July 2006: Handelsblatt

Citation

Eurofound (2006), Finanz IT, Internal restructuring in Germany, factsheet number 63805, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/63805.