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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

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

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

VIG: Elisabeth Stadler to Replace Peter Hagen as CEO

Due to differences in opinion regarding the future strategic orientation and steering of the Group, Peter Hagen will be leaving his position as Chairman of the Managing Board of the Vienna Insurance Group on 31 December 2015. Elisabeth Stadler will become his successor.

December 2, 2015

Bank Austria Posts Net Profit of EUR 660 Million for the First Nine Months

UniCredit Bank Austria announced that net profit in the three months to end-September dropped to 172 million euros from 291 million in the previous three months. As reported, the bank plans to terminate up to 14,000 jobs and restructure or exit its retail business in Austria and leasing operations in Italy as it seeks to strengthen its equity.

November 11, 2015

UniCredit - Bank Austria: CEE Operations Move from Vienna to Milan - Retail Business to be Sold or Restructured

Until the end of 2016, all CEE interests with currently 48,000 employees have to be transferred to Milan. Until now this division has been the most important earner for Bank Austria. The 13 banking subsidiaries of Bank Austria in Eastern and Southeastern Europe employ nearly 48,000 people - and thus the majority of the approximately 57,000 employees of Bank Austria. The retail banking business of in Austria with 1.6 million customers has to be sold or restructured, Unicredit announced in the afternoon.

November 11, 2015

Meinl Bank: Stephen Coleman to Become New CEO

Stephen Coleman will replace Günter Weiss, who must vacate his seat due to a ruling from the Austrian Financial Market Authority (FMA).

October 23, 2015

BDO Austria Expands Consulting Expertise

Ten partners together with their teams have switched from a renowned Austrian competitor to BDO Austria. Thanks to this switch, BDO Austria is able to expand its consulting expertise in the areas of SMEs and family business.

September 10, 2015

Expat Insider: Country Report Austria - Safe & Sound

InterNations shares with you a detailed picture of life abroad in Austria: why people relocate, what their daily life is like, and how satisfied they are. Known for schnitzels, mountains, and bodybuilders turned governors, Austria has excellent rankings in the Quality of Life, Working Abroad, and Family Life Indices, but settling in isn't easy. They provide an in-depth country profile of Austria. Read on and find out what expatriate life in your dream destination Austria is actually like.

August 25, 2015