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.
The insurance company Vivat (formerly: Reaal) has announced it wil cut 900 to 1,200 jobs in the coming three years. According to its Chinese mother company Anbang, which took over Vivat in 2015, costs are 30% higher than competitor costs. In the past few months, Anbang has strengthened its control on Vivat by removing several members of the board and appointing more Chinese board members.
For De Unie union, the news came as a shock. According to De Unie, there will be a wave of restructuring among insurance companies in the near future, following a comparable wave among banks. De Unie stressed the importance of the relatively favourable social plan.
Eurofound (2016), Vivat, Merger/Acquisition in Netherlands, factsheet number 86801, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/86801.