Internal restructuring
Location of affected unit(s)
Financial Services
Financial And Insurance Activities
Financial Service Activities, Except Insurance And Pension Funding
64 - Financial service activities, except insurance and pension funding

160 jobs
Number of planned job losses
Job loss
250 jobs
Number of planned job creations
Job creation
Announcement Date
25 October 2016
Employment effect (start)
1 November 2016
Foreseen end date


Crelan, a Belgian bank, has announced that it is cutting 160 of its approximately 837 employees in Belgium, all of them white collar workers. The dismissals are part of an effort to reduce costs within the company. The company directors state they will try to keep the number of direct dismissals as low as possible and opt for natural attrition, early retirement and internal mobility in the first instance. Trade unions have indicated their regret at the layoffs but also their relief that losses are not higher.


  • 26 October 2016: De Standaard
  • 26 October 2016: De Morgen


Eurofound (2016), Crelan, Internal restructuring in Belgium, factsheet number 89003, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/89003.