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.
HypoVereinsbank, a German subsidiary of Italian Unicredit, will cut 1,500 jobs in Germany.
This is due to the closure of 300 of its current 600 branches that is a result of the trends towards digitalization and the decreasing importance of face-to-face services in stores.
Talks with worker representatives are in the process.
In March 2013, the ERM reported on the bank’s previous plans to close 46 of 610 branches and to make 800 people redundant.
Eurofound (2014), HypoVereinsbank, Closure in Germany, factsheet number 76715, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/76715.
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