Bank Austria

Type
Internal restructuring
Country
Austria
Region
Location of affected unit(s)
Sector
Financial / Insurance/ Estate
64 - Financial service activities, except insurance and pension funding
64 - 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
Job loss
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://apps.eurofound.europa.eu/restructuring-events/detail/72719.