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 24 January 2014 Rabobank announced it will cut between 1,000 and 2,000 jobs in the coming three years as it downsizes its domestic operations. The cuts will take place at the central office in Utrecht. The bank wants to cut costs by € 220 million and to streamline the corporate structure as part of its Vision 2016 programme. The measure comes on top of earlier restructuring measures, involving some 8,000 job cuts (see here). The Dutch bank employs about 60,000 employees worldwide.
Updated, 17/05/2014: As announced, the number of job losses will be 1,240, of which 460 refer to permanent contracts. Forced dismissals are not ruled out. As reported the company mentions that the restructuring is linked only to a € 30 million cost saving plan. The final decision by the works council is expected to be taken in May.
Eurofound (2014), Rabobank, Internal restructuring in Netherlands, factsheet number 76477, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/76477.
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