EMCC European Monitoring Centre on Change

Bawag PSK

Bawag PSK

Geographic Location

Country: Austria


Sector: Financial services
Financial and insurance activities
64.1 - Monetary intermediation
Number Employed: 3200

Employment Effects

Announcement Date: 20-05-2021
Planned Job Reductions min: 200
Planned Job Reductions max: 200
Type of Restructuring: Internal restructuring
Employment Effect Start: 20-05-2021
Foreseen End Date: 22-07-2022
Other Job Reduction Measures: 200

Additional Information

The Austrian BAWAG PSK retail bank is to cut 200 jobs in Austria, to increase its efficiency. Branch employees and bankers who have been with the bank for a long time were affected. Employees who accept the farewell package can also be included in the banking foundation ("Branchenstiftung Finance"). The foundation is financed by the banking sector and co-financed by the AMS and, for Vienna, by the waff.

According to the annual report, the bank had an average of 4,201 employees or 3,580 full-time equivalents in 2020. The number of "active employees" (excluding employees on maternity leave or those included in the social plan concluded in 2018) was 3,118. In 2019, the bank had 4,367 employees or 3,694 full-time equivalents.