Deutsche Boerse

Type
Offshoring/Delocalisation
Country
European Union
Region
Location of affected unit(s)
Frankfurt, 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
New offshoring locations
Not Available
370 jobs
Number of planned job losses
Job loss
Announcement Date
23 March 2010
Employment effect (start)
23 March 2010
Foreseen end date
31 December 2013

Description

Deutsche Boerse, provider of the Frankfurt stock exchange, announced it will cut 370 jobs at its sites in Frankfurt and Luxembourg. Two-thirds of the jobs are to be relocated to its site in Prague. The job reduction is part of a cost saving plan which is expected to be completed by 2013. Deutsche Boerse hopes that costs will be reduced by €100 million per year from 2013 onwards in an efficiency drive.

Sources

  • 23 March 2010: Frankfurter Allgemeine Zeitung

Citation

Eurofound (2010), Deutsche Boerse, Offshoring/Delocalisation in European Union, factsheet number 70339, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/70339.