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 64.19 - Other monetary intermediation
400 - 500 jobs Number of planned job losses
Announcement Date
10 May 2012
Employment effect (start)
11 May 2012
Foreseen end date
31 December 2013
Description
On 10 May 2012 RBS (Royal Bank of Scotland) announced it will cut 500 jobs in the Netherlands in the coming one and a half year. Dismissals will affect mostly people employed in the administrative department (currently employing around 900 staff).
According to the bank representatives, the restructuring is due to the declining demand and need to cut costs. The bank reported a greater than expected loss in 2011.
The restructuring follows an earlier announcement in January 2012 to cut 3,500 jobs worldwide. Forced dismissals are not ruled out. The exact timing for the restructuring is yet to be announced.
Update 02.01.2013: The bank has already implemented 400 job cuts and is planning to cut an additional 500 jobs.
Sources
11 May 2012: NRC Handelsblad
Citation
Eurofound (2012), Royal Bank of Scotland Netherlands, Internal restructuring in Netherlands, factsheet number 73635, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/73635.
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