Internal restructuring
Location of affected unit(s)
Financial Services
Financial And Insurance Activities
Financial Service Activities, Except Insurance And Pension Funding
64 - Financial service activities, except insurance and pension funding

1,000 jobs
Number of planned job losses
Job loss
Announcement Date
11 May 2019
Employment effect (start)
13 May 2019
Foreseen end date


National Bank of Greece has announced a new plan of voluntary redundancies. The application procedure started on 13 May and finished on 10 June. The restructuring plan aims to make 1,000 employees redundant, specifically those who are over 30 years and work at least three years in the bank.The plan provides for compensation up to €170,000. This programme is indeed a prolongation of the previous programme of voluntary redundancies of 780 people which finished in March 2019. The voluntary redundancies intend to reduce operating costs. However, only 338 employees have applied to be included in the current voluntary retirement programme.

In 2016, NBG has announced a similar voluntary exit programme that affected at least 1,350 employees.



Eurofound (2019), National Bank of Greece, Internal restructuring in Greece, factsheet number 98137, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/98137.