Internal restructuring
Location of affected unit(s)
Financial Services
Financial And Insurance Activities
Financial Service Activities, Except Insurance And Pension Funding
64 - Financial service activities, except insurance and pension funding

1,500 jobs
Number of planned job losses
Job loss
Announcement Date
6 August 2014
Employment effect (start)
6 August 2014
Foreseen end date
31 December 2015


German Hypovereinsbank (HVB) is to cut 1,500 jobs by the end of 2015. As announced on 6 August 2014, 240 of  580 subsidiaries shall be closed or merged. 1,300 jobs in retail banking will become redundant in the subsidiaries, 200 people will be dismissed in the bank’s administration department. The management intends to implement the job losses in a socially acceptable manner but does not exclude operational dismissals.

Hypovereinsbank is a Bavarian bank which belongs to the Italian Unicredit group. HVB employs around 19,000 people in total. In the first half of 2014, profits decreased by more than 50 p.c. The company suffers from the increasing use of online banking.


  • 7 August 2014: FAZ
  • 7 August 2014: Hamburger Abendblatt
  • 6 August 2014: Frankfurter Rundschau Online


Eurofound (2014), Hypovereinsbank, Internal restructuring in Germany, factsheet number 77403, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/77403.