Type
Internal restructuring
Country
Netherlands
Region
Location of affected unit(s)
Sector
Financial Services
Financial And Insurance Activities
Financial Service Activities, Except Insurance And Pension Funding
64.19 - Other monetary intermediation

1,500 - 3,000 jobs
Number of planned job losses
Job loss
Announcement Date
26 July 2012
Employment effect (start)
1 August 2012
Foreseen end date
1 August 2016

Description

Dutch cooperative bank Rabobank announced on 26 July 2012 that it will cut 1,500 to 3,000 jobs in the coming four years.

The firm expects to implement the restructuring without forced dismissals. Reported background is the need to cut costs in the face of novel national and international legislation.


Sources

  • 27 July 2012: Het Financieele Dagblad
  • 27 July 2012: De Volkskrant

Citation

Eurofound (2012), Rabobank, Internal restructuring in Netherlands, factsheet number 73973, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/73973.