Type
Merger/Acquisition
Country
Netherlands
Region
Location of affected unit(s)
Sector
Financial Services
Financial And Insurance Activities
Financial Service Activities, Except Insurance And Pension Funding
64 - Financial service activities, except insurance and pension funding

5,000 - 6,500 jobs
Number of planned job losses
Job loss
Announcement Date
1 July 2010
Employment effect (start)
1 January 2011
Foreseen end date
31 December 2012

Description

Dutch bank ABN Amro and Fortis Bank Netherlands, which were bought by the Dutch state last year, are to cut between 5,000 and 6,500 jobs over the next three years as the two businesses are merged. The cuts represent about 17% of the combined workforce of the banks.


Sources

  • 7 July 2010: NRC Handelsblad

Citation

Eurofound (2010), ABN Amro/Fortis, Merger/Acquisition in Netherlands, factsheet number 70744, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/70744.