Internal restructuring
Baden-Württemberg; Stuttgart;
Location of affected unit(s)
Schwäbisch Hall
Financial Services
Financial And Insurance Activities
Financial Service Activities, Except Insurance And Pension Funding
64.2 - Activities of holding companies

200 - 250 jobs
Number of planned job losses
Job loss
Announcement Date
12 September 2014
Employment effect (start)
12 September 2014
Foreseen end date
31 December 2016


Building society Schwäbisch Hall, a DZ-Bank subsidiary, announced plans to cut 200 to 250 jobs at its headquarters by the end of 2016. As announced, the Schwäbisch Hall based organisation plans to reduce payroll and material costs by € 50 to 80 million. The job reduction measure is expected to be implemented by means of natural attrition and hiring freeze.

According to the sources the cost saving measure is due to the shrinking saving volume, since low interest rates are making the building society saving less attractive. As reported, the volume of saving has decreased by one third. This year the company concluded half as much contracts as in the past year.


  • 12 September 2014: Stuttgarter Zeitung
  • 11 September 2014: FAZ
  • 12 September 2014: Handelsblatt


Eurofound (2014), Schwäbisch Hall, Internal restructuring in Germany, factsheet number 77557, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/77557.