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Austrian Labor Market Headlines

VSE and CEESEG: Heimo Scheuch to Serve as New Chairman of the Supervisory Board

Changes in the supervisory board of Wiener Börse AG and CEESEG AG have taken place and a new executive committee was elected. Heimo Scheuch, CEO of Wienerberger AG, will serve as Chairman of the Supervisory Board. Angelika Sommer-Hemetsberger, member of the Management Board of Oesterreichische Kontrollbank AG, was elected Vice-Chairwoman of the Supervisory Board.

June 15, 2016

Peter Löscher to Become Chairman of OMV

Former Siemens CEO Peter Löscher (58) has become new chair of the supervisory board of partially state-owned oil and gas group OMV.

May 19, 2016

Bawag Laying Off Further 180 to 200 Employees

Bawag Bank will optimize its branches and in course of the process will cut 180 to 200 jobs. 70 to 80 of the affected employees are supposed to be sent back to their actual employers - Post AG.

May 3, 2016

Andreas Treichl Earned EUR 2.95 Million in 2015

Andreas Treichl, head of Erste Group, earned EUR 2.95 million (USD 3.3 million) last year. In 2014 his income had been EUR 2.18 million. For 2015 the bank manager received a bonus. The six Erste Group board members were paid out EUR 6.5 million in total for 2015.

March 30, 2016

Gerhard Roiss Collects EUR 6.35 Mln from former Employer OMV

Listed oil group OMV agreed to pay a total of EUR 6.35 million in various severance payments to its ex-CEO Gerhard Roiss whose contract was terminated early, according to the daily Kurier. Also, OMV is planning to transfer 160,847 treasury shares to management members and senior executives.

March 23, 2016

DO & CO's Attila Dogudan in Discussion with Union Concerning Infringement of Labour Law

Listed catering firm DO & CO saw transport and tourism union invite the company's CEO Attila Dogudan to talks concerning the infringement of labour law regulations pinpointed by the labour inspection office in respect to DO & CO's train catering unit Henry am Zug.

March 23, 2016

Cecilia Malmström Visited Vienna to Discuss TTIP

EU Trade Commissioner Cecilia Malmström was welcomed in Vienna. She participated in a public debate concerning the anticipated free-trade agreement between the EU and the USA (TTIP).

February 23, 2016

Foreign Pensions in Austria Have to Pay Health Insurance

The Court of Justice of the EU decided that beneficiaries of foreign pensions in Austria have to pay health insurance contributions as of 2010, answering a preliminary question of Austria’s administrative court. The CJEU ruled in favor of the health insurance fund Vorarlberger Gebietskrankenkasse (VGKK).

February 16, 2016

Robert Zadrazil Takes Over the Helm of Bank Austria from Willibald Cernko

After having been board member of Bank Austria for ten years, Robert Zadrazil (45) will now step it up and replace Willibald Cernko (59) who will step down as of 1 March 2016. The bank speaks of a generation change.

January 18, 2016

UniCredit Final Restructuring Program on Bank Austria's Retail Business

UniCredit announced a major step in its strategic plan execution, by launching a profound restructuring program on its Austrian retail business that will enable Bank Austria to develop its business in a sustainable way, while bringing down significantly its cost income ratio. The restructuring plan will allow to reduce by 2018 Bank Austria's overall costs by € 150mn per year on an ongoing basis on top of the Strategic Plan and with main focus on personnel expenses, leading to an overall cost decrease by almost € 300mn versus 2014 in order to ensure the business sustainability in the long-run.

December 15, 2015