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
500 jobs Number of planned job losses
Announcement Date
28 September 2012
Employment effect (start)
1 November 2012
Foreseen end date
3 June 2013
Description
On 28 September, Cheuvreux, a subsidiary of group Crédit Agricole specialising in brokerage activities, announced a restructuring plan, which will result in the loss of 500 jobs from a total of 700 employees.
This decision is the result of the merger of Cheuvreux with its competitor Kepler. The management will propose relocating employees within the group Crédit Agricole. The main job losses will affect France with 290 job cuts (see French case).
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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.
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