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.
On 13 November 2014, German HSH Nordbank announced its plan to cut one fifth of its 2,600 jobs by the end of 2017, making around 500 jobs redundant.
The bank suffers from the shipping crisis and intends to reduce costs by 170 million euros within the next two years. The reduction will mainly affect sites in Hamburg and Kiel.
HSH Nordbank is a regional bank of Northern Germany and employs around 2,600 people.
Eurofound (2014), HSH Nordbank, Internal restructuring in Germany, factsheet number 77851, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/77851.