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.
The bank was taken over by the NordLB in August 2016, and as part of the restructuring process, the new management has announced plans to reduce the workforce. On 9 January 2017, financial service provider Bremer Landesbank announced to cut around 200 jobs within the next three years. The management gave notice that the restructuring concept will be completed within the next six months. The bank is trying to implement the job cuts in a socially acceptable manner.
Bremer Landesbank is struggling due to non-performing loans of the shipping industry and the bank was taken over by NordLB in the beginning of 2017. Bremer Landesbank employs around 1,150 employees at the moment and is located in the area of Bremen and Oldenburg.
UPDATE 8 September 2017
As announced on 8 September 2017, a week after the legal finalisation of the takeover by NordLB, Bremer Landesbank will be cutting 340 jobs. 310 jobs will be cut in Bremen and 30 jobs in Oldenburg.
Currently Bremer Landesbank has 800 employees in Bremen and 350 employees in Oldenburg.
The brand Bremer Landesbank will continue to exist and will keep supporting cultural events in Bremen such as the Bremer music festival.
Eurofound (2017), Bremer Landesbank, Merger/Acquisition in Germany, factsheet number 89742, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/89742.