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.
Financial Services Financial And Insurance Activities Financial Service Activities, Except Insurance And Pension Funding 64 - Financial service activities, except insurance and pension funding
New offshoring locations
India, Poland, China
650 jobs Number of planned job losses
Announcement Date
26 April 2006
Employment effect (start)
26 April 2006
Foreseen end date
26 April 2009
Description
On 26 April 2006, the bank ABN Amro announced its plans to cut 2,400 jobs worldwide in the next three years, 650 of which will be lost in the Netherlands. At the same time 900 jobs will be created in low-wage countries, mainly in India but also in Poland and China. Most of the jobs will be cut in the division Services Operations (internal services,) which has 22,000 employees worldwide. Measures are being taken in the Netherlands, the USA, the UK and Brazil. ABN Amro's spokesman could not yet tell if there will be any forced dismissals. ABN Amro is aiming for a cost cutback of 150 million euro as of 2008. This cutback comes on top of an earlier announced restructuring plan which should cut the costs of this division by 900 million euro as of 2008.
Sources
26 April 2006: De Volkskrant
Citation
Eurofound (2006), ABN Amro, Offshoring/Delocalisation in Netherlands, factsheet number 63393, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/63393.
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