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.
On 27 June, HSBC bank announced to close two subsidiaries in Luxembourg with 204 job cuts. HSBC wants to close HSBC Trinkaus & Burkhardt (International) with 172 employees and HSBC Trinkaus Investment Managers employing 32 employees. Management started discussion with employees’ representatives to negotiate a social plan.
Recently HSBC has announced a global restructuring plan (see here).
Eurofound (2013), HSBC, Closure in Luxembourg, factsheet number 75578, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/75578.