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
600 jobs Number of planned job losses
Announcement Date
16 January 2013
Employment effect (start)
1 May 2013
Foreseen end date
31 October 2013
Description
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.
Sources
30 January 2013: Ta nea
11 April 2013: Kathimerini
31 January 2013: Imerisia
16 January 2013: Kathimerini
Citation
Eurofound (2013), Hellenic Postbank, Other in Greece, factsheet number 74896, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/74896.
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.
