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.
Financial services provider Citigroup streamlines its worldwide operations. The operation implies the loss of 11,000 or more jobs.
The company estimates that 6,200 positions will be lost in Global Consumer Banking, among others in consumer operations in Romania. Another 1,900 jobs will be lost in its Institutional Clients Group. In Europe, the company will reduce in Hungary four branches in that department. 350 jobs will be eliminated at Citi Holdings, notably in Greece and Spain. 2,600 positions will be lost in supporting services and Global Functions.
Eurofound (2012), Citigroup, Internal restructuring in World, factsheet number 74605, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/74605.