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.
Financial Services Financial And Insurance Activities Financial Service Activities, Except Insurance And Pension Funding 64 - Financial service activities, except insurance and pension funding
250 jobs Number of planned job losses
Announcement Date
8 August 2018
Employment effect (start)
31 August 2018
Foreseen end date
31 August 2020
Description
Dutch bank ABN Amro has announced to cut 250 jobs in its corporate and investment bank on a total workforce of 2,571 employees worldwide. The reorganisation is part of a cost saving plan including a reduction of the risk-weighted assets in the corporate and investment unit by €5 billion to €34 billion over two years. According to the chief-financial officer, the job cuts would fall across the bank’s operations in Europe, Asia and the USA. The bank is also closing its Dubai office as part of a restructuring of its diamonds and jewellery trading activities.
Sources
Citation
Eurofound (2018), ABN Amro, Internal restructuring in World, factsheet number 94804, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/94804.
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