Genossenschaftsbanken: Volksbank Brawo wickelt Gesellschaften der Sparte Green Energy ab – fast 60 Mitarbeiter sind betroffen

Frankfurt - The struggling Volksbank Braunschweig Wolfsburg (Brawo) is closing its Green Energy division, with nearly 60 employees affected. The bank announced on Thursday that it will wind down the Brawo Green Energy business by the end of the year. However, no transfer to a market participant has been successful, according to Vice President Heiner Arnoldi.

After a thorough review of the economic outlook, the bank concluded that continuation would not be responsible. The decision was a difficult one for the institution. A total of 60 employees are affected, as the Volksbank Brawo explained, with all staff members being laid off in principle. The bank aims to support its employees within the legal, collective bargaining, and contractual agreements during this process.

The move is part of Brawo's broader restructuring, following significant problems stemming from real estate transactions. The bank is backed by the industry rescue fund with up to 723 million euros. In times of crisis, genossenschaftsbanken (cooperative banks) support each other.