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.
Financial Services Financial And Insurance Activities Financial Service Activities, Except Insurance And Pension Funding 64.1 - Monetary intermediation
150 jobs Number of planned job losses
Announcement Date
12 May 2016
Employment effect (start)
12 May 2016
Foreseen end date
31 May 2018
Description
IKB Deutsche Industriebank, a German financial service provider for small and medium enterprises is to cut 150 jobs by May 2018. Mostly affected are employees located in the headquarter Düsseldorf and in Frankfurt. This has been confirmed by the bank in written form. However, IKB was not willing to give any interviews. The Deutsche Industriebank was one of the first victims of the financial crisis in 2007. These job cuts are also controversial due to the high costs of saving the bank. This is the second time since 2012 that IKB has to cut jobs (see 02.2012).
IKB Deutsche Industriebank currently employs 1,450 employees.
Sources
12 May 2016: WDR (online)
Citation
Eurofound (2016), IKB Deutsche Industriebank, Internal restructuring in Germany, factsheet number 87528, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/87528.
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