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

1,300 jobs
Number of planned job losses
Job loss
Announcement Date
6 December 2019
Employment effect (start)
1 January 2020
Foreseen end date
21 December 2030


The management and the works council of Hypo-Vereinsbank, the German branch of the financial institution Unicredit, announced a long-term restructuring plan, which will cut 1,300 positions by 2030. The agreement states that the positions will be cut by natural fluctuation, early retirement or voluntary termination of contracts in the period time from 2020 to 2030. The agreement also sets the protection of 10,918 full-time positions. The decision is motivated by global trends of decreasing profits in the banking sector. In early December 2019, the Italian Unicredit announced the cutting of 8,000 positions in Italy, Austria and Germany by 2030.



Eurofound (2019), Hypo-Vereinsbank , Internal restructuring in Germany, factsheet number 99458, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/99458.