EMCC European Monitoring Centre on Change

National Bank of Greece

National Bank of Greece

Geographic Location

Country: Greece


Sector: Financial services
Financial and insurance activities
64 - Financial service activities, except insurance and pension funding
Number Employed: 8200
Group: National Bank of Greece

Employment Effects

Announcement Date: 10-11-2020
Planned Job Reductions min: 800
Planned Job Reductions max: 1000
Type of Restructuring: Internal restructuring
Employment Effect Start: 10-11-2020
Foreseen End Date: 04-12-2020
Direct Dismissals: 1000

Additional Information

The National Bank of Greece has announced a new plan of  voluntary redundancies. Applications start  from 10 November 2020 and  finish on 04 December. The plan provides for the compensation  of  €20.000 up to €150.000 to workers who  exit. Alternatively, the employees can choose to take  a long-term paid  leave with social insurance, from  two up to five years,  at the end of which their  job contract will be terminated with some severance compensation. The plan targets the exit  of 1,000 employees having   7 to  30  years  minimum work experience in the bank.