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
900 jobs Number of planned job losses
Announcement Date
31 January 2008
Employment effect (start)
Foreseen end date
Description
On 31 January 2008 the loss of 900 jobs at ABNAMRO Asset Management and Fortis Investments was announced. Earlier a figure of 500 jobs was mentioned. Background is of the takeover of ABNAMRO by a consortium of three banks (Fortis, Banco Santander and Royal Bank of Scotland). Fortis takes over the Dutch activities of ABNAMRO. It is expected that the merger eventually will result in a loss of 8000 jobs in the Netherlands, including 1900 in ABNAMRO's head office. The present announcement is the first concrete step. Fortis is merging its own asset management activities (Fortis investment, 1050 employees) with ABN AMRO Asset Management (1850 employees).
Sources
31 January 2008: NRC Handelsblad
Citation
Eurofound (2008), ABN Amro, Merger/Acquisition in Netherlands, factsheet number 66311, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/66311.
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