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.
France-based Credit Agricole has announced that it would cut investment banking jobs by the end of 2009. The company has announced that it is planning to cut about 250 jobs at Calyon in France and 1,200 more jobs could be threatened. Its investment banking arm, after the unit reported 6.5 billions euros in writedowns linked to the credit crisis. The bank said that it would try and cut costs by 300 millions euros by the end of next year through measures such as shedding staff and closing businesses.
The bank said half of the job cuts at Calyon would come through voluntary redundancies and 'natural turnover' in its French business. About 250 jobs are to be cut from the bank's international operations.
Eurofound (2008), Calyon, Internal restructuring in France, factsheet number 67041, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/67041.