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.
On 19. February 2020, the German regional bank Helaba announced that it will cut 380 to 400 jobs until 2023 due to internal restructuring. The reduction will start in mid-March 2020 and will affect full-time employees at all divisions of the bank in Germany. According to management, Helaba needs to optimise its processes and intends to improve its customer service with a smaller workforce. Helaba plans to implement job reduction in a socially acceptable manner. Negotiations with the works council have just started.
Currently, Helaba operates in Hesse and Thuringia and has 6,000 employees in Germany of which 2,600 have full-time employment contracts.
Eurofound (2020), Helaba, Internal restructuring in Germany, factsheet number 100064, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/100064.
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