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.
The Austrian co-operative Raiffeisenbank has announced to cut 300 jobs in the Czech Republic in October 2011. The cuts will affect one tenth of its staff mainly affecting administrative positions. The bank names the necessity to lower labour costs and to adjust the banks's overall costs to the lower level of economic activities in the Czech Republic and around the world.
Raiffeisenbank operates banking subsidiaries in 15 countries throughout central and Eastern Europe and employs about 55,400 people.
Eurofound (2011), Raiffeisenbank, Internal restructuring in Czechia, factsheet number 72702, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/72702.