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
250 - 800 jobs Number of planned job losses
Announcement Date
14 November 2011
Employment effect (start)
15 November 2011
Foreseen end date
31 December 2015
Description
About 800 employees of Bank Austria stand to lose their jobs as part of the cost saving programme of the UniCredit group by 2015. This was announced by the company's CEO Mr Cernko. The redundancies are to take place by natural attrition of about 250 per year. This is part of the larger restructuring plan of UniCredit (see factsheet 19168) which foresees to cut up to 7,290 jobs in Western Europe.
Sources
14 November 2011: Die Presse
14 November 2011: Wirtschaftsblatt
14 November 2011: Der Standard
Citation
Eurofound (2011), Bank Austria, Internal restructuring in Austria, factsheet number 72719, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/72719.
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