Restructuring events
European Restructuring Monitor (ERM)
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.
ING, the multi-national financial services group, has announced that it is to cut 850 jobs across Belgium. The job losses stem from the decision of the group to automate certain banking services within their Belgian branch network. The job losses will be implemented between the end of 2008 and the end of 2011. Management personnel at the firm have stated that no compulsory redundancies will be made and that the job losses will be achieved through a policy of not replacing retiring staff. ING employs 12,000 in Belgium.
Eurofound (2007), ING, Internal restructuring in Belgium, factsheet number 66061, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/66061.