Sparbanken Skane

Type
Merger/Acquisition
Country
Sweden
Region
Södra Sverige; Sydsverige;
Location of affected unit(s)
Sector
Financial / Insurance/ Estate
64 - Financial service activities, except insurance and pension funding
64.1 - Monetary intermediation
64.1 - Monetary intermediation
200 jobs
Number of planned job losses
Job loss
Announcement Date
14 February 2014
Employment effect (start)
14 February 2015
Foreseen end date
14 February 2016

Description

Swedish banks Swedbank and Sparbanken Öresund merge parts of their businesses, causing a loss of 200 jobs.

Swedbank acquires the local Scanian bank Sparbanken Öresund, creating the new bank Sparbanken Skåne, covering the Southern parts of Sweden. The job cuts will be implemented in previous sections of both banks – a gradual procedure to last 12 to 24 months.

For previous restructurings at Swedbank see ERM reports in 2012 and 2011 (2011a, 2011b).

Sources

  • 14 February 2014: Dagens Industri
  • 14 February 2014: Svenska Dagbladet

Citation

Eurofound (2014), Sparbanken Skane, Merger/Acquisition in Sweden, factsheet number 76616, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/76616.