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
2,350 jobs Number of planned job losses
Announcement Date
15 December 2011
Employment effect (start)
1 January 2012
Foreseen end date
31 December 2012
Description
On December 15th the French bank Crédit Agricole has announced that it is to cut 2350 jobs by December 2012: 1750 in its corporate and investment-banking unit, and 600 in other financial activities. The cuts are planned to be implemented within one year.
The measure is part of a worldwide restructuring which will mainly affect French workers (850, see here). The management is reported to want to avoid forced redundancies and will propose internal mobility and voluntary departures.
Digitisation and automation technologies, including artificial intelligence (AI), can affect working conditions in a variety of ways and their use in the workplace raises a host of new ethical concerns.
The retail banking sector is fertile ground for studying the impacts of digitalisation on work and employment. Financial services are increasingly provided online, without the intermediary of customer-facing institutions.
European labour markets have recovered strongly from COVID-19. By the end of 2021, little more than 18 months after the start of the pandemic, employment rates in the EU were almost at pre-crisis levels.
