Nova ljubljanska banka (NLB)

Type
Internal restructuring
Country
Slovenia
Region
Slovenija; Zahodna Slovenija; Osrednjeslovenska
Location of affected unit(s)
Ljubljana
Sector
Financial / Insurance/ Estate
64 - Financial service activities, except insurance and pension funding
64.1 - Monetary intermediation
64.19 - Other monetary intermediation
700 jobs
Number of planned job losses
Job loss
Announcement Date
24 October 2013
Employment effect (start)
24 October 2013
Foreseen end date
31 December 2014

Description

Nova ljubljanska banka (NLB), the largest Slovenian bank will lay off 444 employees by the end of June 2014. The measure is due to the economic recession and the consequent increase of clients debts: the bank needs consequently both additional capital and a thorough restructuring.

See NLB 2013 and NLB 2010 for previous restructuring measures.

Update, 23-10-2013: According to new sources, more severe job dismissals are to be implemented as previously announced. By the end of 2014, the bank is to reduce its staff by 700 workers.

228 working positions are to be cut by the end of 2013. 80 workers were already dismissed on 22 October, and the remaining 148 positions are cut through non-replacement of retiring workers. In 2014, the workforce is to be reduced by another 472 positions.

Sources

  • 24 October 2013: Delo
  • 25 October 2013: 24ur
  • 23 October 2013: NLP (press release)
  • 30 August 2013: Delo

Citation

Eurofound (2013), Nova ljubljanska banka (NLB), Internal restructuring in Slovenia, factsheet number 75802, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/75802.