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.
Hellenic Postbank (TT), one of the leading banks in Greece, announced a voluntary exit programme for 500 to 900 employees. According to the media, the management of the Hellenic Financial Stability Fund announced a speedy restructuring plan affecting 500 to 900 workers from a total of 3,000 currently employed. The programme will be carried out in one to two weeks. According to reports, Troika has demanded that the Hellenic Postbank be privatized in the next six months. However, large Greek banks, potentially interested in acquiring a new Hellenic Postbank, are currently in merger procedures, which do not allow them to ‘absorb’ another bank easily.
Update 11/04/2013: According to a new source the restructuring plan refers to 600 out of 3,100 employees. The programme will be carried out till the end of October 2013.
Eurofound (2013), Hellenic Postbank, Internal restructuring in Greece, factsheet number 74896, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/74896.
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