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.
On 5 March 2008, Dutch financial services company ING Groep NV and postal company TNT NV will close 250 joint post-bank offices over the next five years and cut 1,850 jobs across the country. The closures involve their Postkantoren BV joint venture. Direct dismissals are not completely ruled out. ING would take a 87 million Euro provision restructuring charge as a result of the closure, while TNT said it would allocate a 70 million Euro for the implementation of the restructuring.
Over the last few years, the number of post offices was reduced from 2000 to just 250. The last post office is scheduled to close in 2012.
Eurofound (2008), Postkantoren BV, Closure in Netherlands, factsheet number 66505, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/66505.