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.
Nova Ljubljanska Banka (NLB), the largest Slovenian bank, partly owned by the state and partly by the Belgian KBC bank, will cut its employment by 450-600 people out of existing 4,000. The bank has to implement mass redundancy measures because of severe financial troubles which occurred due to economic recession as the outstanding debts of its clients increased. As a result the bank needs additional capital. The owners request a thorough restructuring of the bank to cover the costs of additional capital. Reduction of employment is part of the restructuring programme.
UPDATE:According to newspapers Delo (28-02-2011) and Finance (01-03-2011), the number of planned job cuts in NLB has been revised from 450-600 to 400-550.
Eurofound (2010), Nova ljubljanska banka (NLB), Internal restructuring in Slovenia, factsheet number 71379, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/71379.
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