Type
Internal restructuring
Country
Netherlands
Region
Location of affected unit(s)
Sector
Financial Services
Financial And Insurance Activities
Financial Service Activities, Except Insurance And Pension Funding
64.1 - Monetary intermediation

1,200 jobs
Number of planned job losses
Job loss
Announcement Date
21 June 2004
Employment effect (start)
1 September 2004
Foreseen end date
1 September 2006

Description

Rabobank, the Dutch cooperative bank, has announced a job reduction plan involving 1,200 redundancies in order to save 200 million euros. The job cuts will start in September 2004 and will be spread out over two years, in order to avoid direct dismissals. The bank also wishes to merge its affiliate banks to reduce their number from 320 to 150.


Sources

  • 22 June 2004: La Tribune

Citation

Eurofound (2004), Rabobank, Internal restructuring in Netherlands, factsheet number 60476, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/60476.