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.
Czech banking group ČSOB, which belongs to the Belgian company KBC, has announced about 400 redundancies in the whole ČSOB group by the end of 2018. At the same time 135 new positions are to be created. Workers at branches and dealers should be the most affected. The newly created positions should be filled by qualified candidates to face the growing IT challenge in banking and insurance agenda.
Unions in ČSOB, the second largest domestic bank by number of clients, do not agree with the bank's plans and sent a letter to the management, expressing disagreement with the announced redundancies.
ČSOB currently employs over 10,000 people.
Eurofound (2018), ČSOB, Internal restructuring in Czechia, factsheet number 95524, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/95524.