The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Luxembourg, Belgium, Germany, Netherlands, Denmark, United Kingdom
Sector
Financial / Insurance/ Estate 64 - Financial service activities, except insurance and pension funding 64.1 - Monetary intermediation 64.19 - Other monetary intermediation
300 jobs Number of planned job losses
Announcement Date
5 December 2025
Employment effect (start)
5 December 2025
Foreseen end date
31 December 2027
Description
Quintet, a Luxembourg-based private banking group, has announced plans to cut around 300 jobs globally over the next three years.
The cuts will affect employees in about 30 cities across Europe and the United Kingdom. So far, there is no detailed information on the number of dismissals in individual countries.
The bank stated that most of the reduction is expected to be achieved through natural attrition, redeployment and the elimination of vacant roles rather than compulsory redundancies. Quintet has also indicated that employees whose roles are eliminated will be encouraged to apply for other positions within the group, supported by internal mobility and reskilling measures. The measure is part of a strategy to improve profitability and organisational effectiveness.
Quintet employs about 1,650 people worldwide. It operates in Luxembourg, Belgium, Germany, the Netherlands, Denmark, and the United Kingdom.
Digitisation and automation technologies, including artificial intelligence (AI), can affect working conditions in a variety of ways and their use in the workplace raises a host of new ethical concerns.
The retail banking sector is fertile ground for studying the impacts of digitalisation on work and employment. Financial services are increasingly provided online, without the intermediary of customer-facing institutions.
European labour markets have recovered strongly from COVID-19. By the end of 2021, little more than 18 months after the start of the pandemic, employment rates in the EU were almost at pre-crisis levels.
