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

400 - 1,000 jobs
Number of planned job losses
Job loss
Announcement Date
2 February 2018
Employment effect (start)
2 February 2018
Foreseen end date
20 February 2018


Piraeus Bank has announced a plan of  voluntary redundancies, which starts on 2 February 2018 and ends on February 20. The plan provides compensation  of up to 61 monthly salaries to the workers concerned and targets the exit  of up to 1000 people. This is one of the tools used by Piraeus Bank to reduce its operating costs. Different possibilities are offered including early retirement, with the most generous allocations provided for those over 57 years of age, long-term leave and extended maternity leave options.  


  • 2 February 2018: insider.gr
  • 2 February 2018: banking.news


Eurofound (2018), Piraeus Bank, Internal restructuring in Greece, factsheet number 93198, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/93198.