EMCC European Monitoring Centre on Change

Alpha Bank

Company/Organisation:
Alpha Bank

Geographic Location

Country: Greece

Company

Sector: Financial services
Financial and insurance activities
64 - Financial service activities, except insurance and pension funding
Number Employed: 10000

Employment Effects

Announcement Date: 15-09-2014
Planned Job Reductions min: 2200
Type of Restructuring: Internal restructuring
Employment Effect Start: 01-10-2014
Other Job Reduction Measures: 2200

Additional Information

The fourth biggest lender in Greece, Alpha Bank has announced the launch of a voluntary redundancy scheme offer in a bid to cut its workforce by 15-20pc. About 2,000 jobs are to be lost. As reported, the restructuring is also due to a need to rationalise staff numbers after the merge of Emporiki Bank.

Updated, 06-10-2014: As reported, 2,200 people will participate in the voluntary redundancy scheme.