Raiffeisen Bank International (RBI)

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
100 jobs
Number of planned job losses
Job loss
Announcement Date
26 January 2012
Employment effect (start)
Foreseen end date

Description

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.

Sources

  • 26 January 2012: Die Presse

Citation

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.