Type
Internal restructuring
Country
France
Region
Location of affected unit(s)
Sector
Financial Services
Financial And Insurance Activities
Financial Service Activities, Except Insurance And Pension Funding
64 - Financial service activities, except insurance and pension funding

250 jobs
Number of planned job losses
Job loss
Announcement Date
13 June 2007
Employment effect (start)
31 July 2007
Foreseen end date
31 July 2009

Description

The French subsidiary of Fortis, the Belgo-Dutch banking group, announced on 13 June 2007 that the company is planning to cut 250 jobs, about 8% of its total staff, closing seven branches and merging another ten. The bank says the planned cuts are designed to simplify its organisation and improve its performance. The changes will take place over 24 months between July 2007 and July 2009 and they will affect both the group's headquarters and its branch network.


Sources

  • 15 June 2007: Le Figaro
  • 14 June 2007: Le Progr├Ęs
  • 15 June 2007: Le Monde

Citation

Eurofound (2007), Fortis, Internal restructuring in France, factsheet number 65486, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/65486.