EMCC European Monitoring Centre on Change

Volksbank Romania

Company/Organisation:
Volksbank Romania

Geographic Location

Country: Romania
Region: Bucuresti; Bucuresti
Location of affected unit(s): Bucharest, Bucharest region

Company

Sector: Financial services
Financial and insurance activities
64.19 - Other monetary intermediation
Number Employed: 1467
Group: Volksbank

Employment Effects

Announcement Date: 15-08-2012
Planned Job Reductions min: 170
Planned Job Reductions max: 170
Type of Restructuring: Internal restructuring
Foreseen End Date: 15-08-2012
Direct Dismissals: 170

Additional Information

The Romanian subsidiary of Volksbank announced collective dismissal of 170 employees as a part of the restructuring plan approved in 2012.

The measure was motivated by reported substantial financial losses in 2011. The dismissed employees will receive compensation payments.

At the end of 2011 Volksbank Romania employed 1,467 people.