Company/Organisation:
HypoVereinsbank
Geographic Location
Country:
Germany
Region:
München, Kreisfreie Stadt; Oberbayern; Bayern
Company
Sector:
Financial services
Financial and insurance activities
64 - Financial service activities, except insurance and pension funding
Number Employed:
26000
Group:
Unicredito
Employment Effects
Announcement Date:
13-06-2005
Planned Job Reductions min:
2000
Planned Job Reductions max:
2000
Type of Restructuring:
Internal restructuring
Employment Effect Start:
01-07-2005
Foreseen End Date:
30-06-2008
Additional Information
After Hypovereinsbank and Unicredito have agreed to merge, Hypovereinsbank has announced a new cost-cutting programme. On top of job losses announced in February 2005, the merger will lead to the loss of 2,000 jobs at the German operations of Hypovereinsbank. Merger-related job losses have also been announced for Eastern Europe, Italy and Austria. No announcements were made as to how the job-cutting is to be implemented.
Sources:
13-06-2005FAZ.NET
Sources Links:
www.faz.net/IN/INtemplates/faznet/default.asp?tpl=investor/tool_infoboxticker_meldung.asp&id=1118680431
MEMBER OF THE NETWORK OF EU AGENCIES
Eurofound is an agency of the European Union