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.
Due to the expansion of opening hours, the Austrian BAWAG PSK retail bank is to hire 100 new employees. In more than 400 branches Bawag runs together with the Österreichische Post AG in the 'exposed areas'. The working hours of bank employees will be from 8am to 6pm even on Saturday mornings. First pilot projects have already started.
The bank, which has initiated a big internal restructuring project in 2010 (see factsheet 15489), has asked the Telekom Austria to transfer its surplus employees with the guidance of trade unions. In the Telekom Company, some 800 employees out of its total 10,000 are currently not needed but cannot be laid off (for more information, see factsheet 16288). The expansion of opening hours is part of a sector-wide offensive of extending counter opening hours.
Eurofound (2011), Bawag PSK, Business expansion in Austria, factsheet number 71716, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/71716.