Dexia

Type
Internal restructuring
Country
European Union
Region
Location of affected unit(s)
Belgium, France, Luxembourg
Sector
Financial / Insurance/ Estate
64 - Financial service activities, except insurance and pension funding
64 - Financial service activities, except insurance and pension funding
64 - Financial service activities, except insurance and pension funding
900 - 1,000 jobs
Number of planned job losses
Job loss
Announcement Date
30 January 2009
Employment effect (start)
2 February 2009
Foreseen end date
31 December 2009

Description

Dexia bank has announced that it is to cut around 1,000 jobs in Europe. The countries that will be most affected by the restructuring are Belgium, France and Luxembourg. As of January 2009, there is no additional information on the job losses in each country. Dexia has been severely hit by the financial crisis and lost EUR 3 billions in 2008. The bank's restructuring plan is geared to save EUR 200 millions in 2009.

Sources

Citation

Eurofound (2009), Dexia, Internal restructuring in European Union, factsheet number 67995, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/67995.