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.
Axa Bank announced the intention to cut 148 jobs in Belgium by the end of 2016. About 77 job losses will be achieved via natural departures and 71 through direct dismissals. About 74 jobs will be cut in 2014. According to the management, the decision comes from the need to be more competitive by enhancing the customer service activities.
Trade unions consider the decision as unacceptable because the job cuts are probably the result of the company's bad investments in Eastern Europe countries and they intend to reduce the number of redundancies.
Eurofound (2014), Axa Bank Belgium, Internal restructuring in Belgium, factsheet number 76693, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/76693.