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 16 January 2009, bank and insurance group ING announced that it will cut 7,000 jobs worldwide (2,800 in banking and 4,200 in insurance activities) by the end of 2009. The group has been hit hard by the credit crunch: the company´s financial loss amounted to one billion EUR in 2008. The bank was heavily involved in the American housing market and has twice asked (and received) financial support from the Dutch government. ING employs 130,000 people worldwide and operates in more than 50 countries.
Eurofound (2009), ING, Internal restructuring in World, factsheet number 68070, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/68070.