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 64.1 - Monetary intermediation
1,600 jobs Number of planned job losses
Announcement Date
17 December 2012
Employment effect (start)
1 January 2013
Foreseen end date
30 June 2014
Description
Banca Comerciala Romana (BCR), a subsidiary of the Austrian group Erste, announced the intention to dismiss 1,600 employees over the next 18 months.
The restructuring plan includes the closure of more than 60 unprofitable branches and a decrease in the number of employees in Romania from 9,100 to 7,500 persons. The dismissals have just been approved by the management and they are yet to be negotiated with the unions.
The restructuring is attributed to the forecasts of another difficult year for the banking sector and the need to make strategic changes and cut costs. Despite the closure of 60 branches, according to reports, there are also plans to open 20 new ones in other areas.
Sources
17 December 2012: Romania-Insider.com
17 December 2012: mediafax.ro
Citation
Eurofound (2012), Banca Comerciala Romana (BCR), Internal restructuring in Romania, factsheet number 74694, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/74694.
Digitisation and automation technologies, including artificial intelligence (AI), can affect working conditions in a variety of ways and their use in the workplace raises a host of new ethical concerns.
The retail banking sector is fertile ground for studying the impacts of digitalisation on work and employment. Financial services are increasingly provided online, without the intermediary of customer-facing institutions.
European labour markets have recovered strongly from COVID-19. By the end of 2021, little more than 18 months after the start of the pandemic, employment rates in the EU were almost at pre-crisis levels.
