Restructuring events
European Restructuring Monitor (ERM)
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.
According to a May 2009 decision by the EU Commission, German bank Commerzbank has to split from its subsidiary Eurohypo, a property and state finance institute, by 2014 to be allowed to receive state aid.
On 11 May 2009, Commerzbank announced restructuring plans to prepare Eurohypo for the split. Eurohypo is expected to operate on a small number of foreign markets and a total of 390 jobs will be cut by 2011. Out of these 260 jobs will be located in Germany. There is no precise information on where the remaining jobs cuts will be implemented. However, it is planned to leave - among others - the Dutch and the Swiss market.
Eurofound (2009), Eurohypo, Internal restructuring in European Union, factsheet number 68882, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/68882.