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.
Savings-bank Sparkasse Hannover announced to cut up to 200 jobs by the end of 2019. Furthermore, 20 out of 99 branches in the greater area of Hanover will be closed. The bank is struggling withlow-interest phase like many other banks too, see (Commerzbank, 2016) and (Deutsche Bank, 2015).
The management will avoid direct dismissals and implement socially acceptable solutions. The savings-bank is just about to complete their latest implementation of 240 job cuts, that is to be completed by the end of October 2016, see (Sparkasse Hannover, 2013). In total, Sparkasse Hannover employs 2,102 staff.
Eurofound (2016), Sparkasse Hannover, Closure in Germany, factsheet number 88862, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/88862.