EMCC European Monitoring Centre on Change

Erste Bank der oesterreichischen Sparkassen AG

Erste Bank der oesterreichischen Sparkassen AG

Geographic Location

Country: Austria


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

Employment Effects

Announcement Date: 18-07-2003
Planned Job Reductions min: 270
Planned Job Reductions max: 270
Type of Restructuring: Internal restructuring

Additional Information

To maintain its results in Austria and its independance, the Erste Bank has to restructure to reduce its costs. From 200 to 250 jobs should be suppressed by natural way (retirements, non replaced workers) but some direct dismissals are possible.