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.
The banking group Piraeus Bank has announced a new plan of voluntary redundancies. The applications started on 15 July and finishes on 16 August. The restructuring plan provides for compensation up to €160,000. It targets any employee who wishes to participate, under the condition that the employee has completed a full continuous service of three years in the group. There is not a specific number of employees who will exit, but it is estimated that about 2,000 employees will participate. This programme is only a part of a total project of voluntary redundancies in Piraeus Banking Group for the period 2019-2021, aiming to reduce its operating costs at least by €150 million. Piraeus Bank intends to the total exit of about 5,000 employees by the end of 2021.
Eurofound (2019), Piraeus Bank , Internal restructuring in Greece, factsheet number 98169, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/98169.
This working paper offers a comprehensive methodological overview of the European Restructuring Monitor (ERM) databases. Even though the methodology has not changed over time, new categories have been added, and the way it has been used by researchers and policymakers...
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