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

500 - 520 jobs
Number of planned job losses
Job loss
Announcement Date
13 November 2014
Employment effect (start)
13 November 2014
Foreseen end date
31 December 2017


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.  


  • 13 November 2014: NDR Online
  • 13 November 2014: Hamburger Abendblatt
  • 13 November 2014: FAZ


Eurofound (2014), HSH Nordbank, Internal restructuring in Germany, factsheet number 77851, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/77851.