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
New offshoring locations
134 jobs Number of planned job losses
Announcement Date
2 September 2009
Employment effect (start)
1 October 2009
Foreseen end date
31 December 2009
Description
Mastercard, a financial mediation company, is about to relocate 134 jobs from its European headquarter located in Waterloo, in the south of Brussels to the United States. Mastercard intends to relocate some its activity, "global technology and operations." This decision is part of a strategic plan that began in 2005 and reorganised the activities of the company. According to management, the decision was accelerated by the consequences of the crisis. The trade unions involved fear an important collective redundancy process. Because of the young age of the staff, it will not be possible to use early-retirement to avoid direct dismissals.
Sources
3 September 2009: Le Soir
3 September 2009: L'Echo
Citation
Eurofound (2009), MasterCard, Offshoring/Delocalisation in Belgium, factsheet number 69506, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/69506.
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