Internal restructuring
Bayern; Oberbayern; München
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

300 - 350 jobs
Number of planned job losses
Job loss
Announcement Date
19 June 2008
Employment effect (start)
1 July 2008
Foreseen end date
31 December 2010


Bayern Landesbank, a bank owned by the state of Bavaria (50%) and the public saving banks of Bavaria (Sparkassenverband Bayern), will cut 300 to 350 jobs at its headquarter in Munich. The bank employs a global workforce of 19,200. Most of the jobs will be shed in the IT-service division. The bank claims that it run too many programmes and job cuts in the IT-sector will reduce human ressouce costs and material costs. Bavarian Social Democrats say that the job cuts have to be seen in light of the financial crisis and that workers have to bear the costs of management errors. According to Bayern LB, the job cuts will be achieved by natural attrition and voluntary measures and without direct dismissals.


  • 19 June 2008: Frankfurter Allgemeine Zeitung


Eurofound (2008), Bayern Landesbank, Internal restructuring in Germany, factsheet number 66774, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/66774.