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 the 28th of October, bank assurer KBC has announced to restructure its services leading from 160 to 500 redundancies. It is reported that part of its business activities will be relocated to the Czech Republic at Brno.
The head management explained this decision by internal costs control policies and the decision to group certain activities in the Czech Republic. Some services of the group (such as accountancy) are located at Brno.
The complete impact and timeline of the restructuring plan is still unclear. Conflicting information of KBC and the Labour Union speak about between 150 and 500 threatened jobs.
The social partners are presently engaged in the bargaining procedure.
Eurofound (2011), KBC, Offshoring/Delocalisation in Belgium, factsheet number 72677, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/72677.