Internal restructuring
Location of affected unit(s)
Frankfurt, Kassel, Erfurt
Financial Services
Financial And Insurance Activities
Financial Service Activities, Except Insurance And Pension Funding
64 - Financial service activities, except insurance and pension funding

450 jobs
Number of planned job losses
Job loss
Announcement Date
18 January 2012
Employment effect (start)
18 January 2012
Foreseen end date
31 December 2015


As reported on January 18th, 2012, the federal state bank in Hesse and Thuringia Helaba will cut 450 of 3,200 jobs during the next four years at its Frankfurt, Kassel and Erfurt sites.

This is due to the bank's plans to reduce its costs by € 70 million. The bank announced that there will be no forced dismissals and the job reduction is to be realized by natural attrition. Forced redundancies cannot be implemented until 2015 due to an ongoing agreement on the safeguarding of jobs.


  • 17 January 2012: Reuters Deutschland
  • 18 January 2012: Frankfurter Allgemeine Zeitung
  • 18 January 2012: Financial Times Deutschland
  • 18 January 2012: Handelsblatt


Eurofound (2012), Helaba, Internal restructuring in Germany, factsheet number 72998, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/72998.