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.
Raiffeisen Bank International (RBI), an Austrian bank, announced the loss of over 100 jobs out of 1,800 in Austria. According to the RBI CEO Herbert Stepic the job cuts will be implemented through natural attrition. As of January 2012, there is no information on the timeline of the job cuts.
The measure is blamed on the forced conversion of foreign currency loans in Hungary which is expected to cost RBI EUR 60mn. To date, the bank has not disclosed whether and how many job cuts will be implemented across the group.
Eurofound (2012), Raiffeisen Bank International (RBI), Internal restructuring in Austria, factsheet number 73239, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/73239.
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