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.
Fortis bank terminated 168 jobs in Belgium (900 worldwide, factsheet 14339) during the first three months of 2009. The departments 'merchant bank' and 'retail bank' were the most affected. Among the jobs lost, which represent 0.9% of the whole staff, 75 workers were retired, 70 workers voluntary left the company and 23 were made redundant. The lost jobs are the consequence of a policy Fortis has been conducting since the end of 2008 and which consists in the non-replacement of the workers who left. Fortis was severely concerned by the financial crisis and the Belgian units were sold to the French bank BNP Paribas. The merger between Fortis bank and BNP Paribas led many workers to leave the company fearing any collective redundancy.
Eurofound (2009), Fortis, Internal restructuring in Belgium, factsheet number 69523, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/69523.
Eurofound’s ERM restructuring legislation database offers an overview of key restructuring-related regulations in the EU Member States and Norway. Its content is continuously updated to reflect any changes made by national legislators in response to, for instance, policy shifts, legal...
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This working paper offers a comprehensive methodological overview of the European Restructuring Monitor (ERM) databases. Even though the methodology has not changed over time, new categories have been added, and the way it has been used by researchers and policymakers...
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