Cooperative banks: Volksbank Brawo is winding up companies in the Green Energy sector – almost 60 employees are affected
The Volksbank Braunschweig Wolfsburg is stopping its Green Energy business at the end of the year. Around 60 employees are being made redundant. The bank needs help from the cooperative support fund.
The Volksbank Braunschweig Wolfsburg (Brawo) is ending its Green Energy business at the end of the year. The decision was made after careful examination of the economic prospects, and despite efforts to find a buyer, none was found. 60 employees will be affected, with all being offered support in line with legal, collective bargaining, and contractual agreements. The bank is undergoing a major restructuring due to heavy losses, mainly from real estate deals, and is being supported by the BVR with up to 723 million Euros.
Written by urgent.news from Handelsblatt's report — not a translation of it. Machine-written — may contain errors; check the original before relying on it.
This story
This is one outlet's version. Read the fullest account.
- Banks: Owners of Volksbank Brawo approve support measures handelsblatt.com
