Type
Internal restructuring
Country
Germany
Region
Hamburg; Hamburg; Hamburg
Location of affected unit(s)
Sector
(64 - 68) Financial / Insurance/ Estate
64 - Financial service activities, except insurance and pension funding
64.1 - Monetary intermediation
64.19 - Other monetary intermediation

190 jobs
Number of planned job losses
Job loss
Announcement Date
21 August 2025
Employment effect (start)
21 August 2025
Foreseen end date
31 December 2026

Description

Hamburg Commercial Bank (HCOB), a German credit institution, is cutting 190 full-time positions - around one-fifth of its workforce - within the areas of structured finance, international real estate and aircraft financing.

The cuts are part of a strategic realignment following declining profits, with pre-tax profit for 2025 revised to €250 million. In the future, the focus for private customers will increasingly be on digital offerings. The jobs will be permanently eliminated, but no information is available on how the jobs will be cut.

The bank was created in 2018 through the privatisation of HSH Nordbank.


Sources

Citation

Eurofound (2025), Hamburg Commercial Bank, Internal restructuring in Germany, factsheet number 203224, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/203224.