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 64.19 - Other monetary intermediation
90 - 110 jobs Number of planned job losses
Announcement Date
8 January 2009
Employment effect (start)
1 February 2009
Foreseen end date
31 July 2009
Description
Copenhagen-based bank, FIH Erhvervsbank has announced at the beginning of January that between 90 and 110 employees will be made redundant. The bank has chosen to launch a significant savings scheme of which the redundancies are an important part. The job cuts will result in savings between DKK 180 million and 200 million (€ 24 - 27 million) in the long term. The stock department will be completely closed with a loss of 23 jobs. Since 2004 FIK Erhvervsbank has been owned by the Icelandic bank Kaupthing which collapsed on 8 October 2008. FIH will now enter into negotiations with the Financial Services Union concerning the conditions of the redundancies. The negotiations are supposed to end around 1 February.
Sources
8 January 2009: Business.dk
Citation
Eurofound (2009), FIH Erhvervsbank, Internal restructuring in Denmark, factsheet number 67796, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/67796.
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