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 Insurance, Reinsurance And Pension Funding, Except Compulsory Social Security 65 - Insurance, reinsurance and pension funding, except compulsory social security
450 jobs Number of planned job losses
Announcement Date
26 February 2008
Employment effect (start)
1 January 2008
Foreseen end date
Description
Dresdner Bank AG, a subsidiary of German insurer Allianz, announced the loss of 450 jobs at its investment banking unit Dresdner Kleinwort Wasserstein (DrKW). The decision is attributed to the crisis in investments affecting Dresdner Kleinwort and the decrease in sales. As of March 2008, there is no information on the number employed and when the job cuts will be implemented by.
Sources
26 March 2008: Frankfurter Allgemeine Zeitung
Citation
Eurofound (2008), Dresdner Kleinwort Wasserstein (DrKW), Internal restructuring in Germany, factsheet number 66363, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/66363.
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