Internal restructuring
Location of affected unit(s)
Financial Services
Financial And Insurance Activities
Financial Service Activities, Except Insurance And Pension Funding
64.1 - Monetary intermediation

1,200 jobs
Number of planned job losses
Job loss
Announcement Date
11 November 2015
Employment effect (start)
31 December 2015
Foreseen end date
31 December 2018


German bank Hypo-Vereinsbank (HVB) announced its plans to cut 1,200 jobs in Germany by the end of 2018. The company wants to focus on digitisation as well as reducing its branches by the end of 2015. Its 580 branches will be reduced to 341 nad the remaining branches will be equipped with more technology.The bank's CEO even believes that one day bank branches will be superfluous.

HVB is a subsidiary of Unicredit, an Italian bank, which is aiming to cut costs. This job reduction has begun in the end of 2014 and the overall workforce will be reduced to 2,900 by the end of 2015. The parents company Unicredit had already announced that 18,000 jobs will be cut worldwide.

Hypo-Vereinsbank is a subsidiary of the Italian bank, Unicredit, and is headquartered in Munich. Currently, 17,000 employs are working for Hypo-Vereinsbank in Germany as part of 130,000 employees working for Unicredit worldwide.


  • 11 November 2015: Frankfurter Allgemeine Zeitung Online
  • 12 November 2015: Spiegel Online
  • 11 November 2015: Focus Online


Eurofound (2015), Hypovereinsbank (HVB) , Internal restructuring in Germany, factsheet number 85566, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/85566.