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 - Financial service activities, except insurance and pension funding
300 jobs Number of planned job losses
Announcement Date
9 November 2011
Employment effect (start)
1 October 2011
Foreseen end date
30 November 2011
Description
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.
Sources
9 November 2011: Hospodárske noviny
Citation
Eurofound (2011), Raiffeisenbank, Internal restructuring in Czechia, factsheet number 72702, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/72702.
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