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.
Fund management company Fidelity International has announced that it will cut 1,000 jobs worldwide in 2024.
The programme will affect positions throughout all business lines and regions. The layoffs are part of a cost-saving programme expected to save around $125 million a year. The sources report that the fund management industry has struggled to retain client cash through a period of turbulent markets and higher interest rates that have driven investors into lower-risk or passive alternatives.
Founded in 1969, Fidelity International handles investments for clients in Europe, Canada, EMEA and Asia. Fidelity International operates in 25 countries: Australia, Austria, Belgium, Bermuda, Brazil, Canada, China, Dubai, France, Germany, India, Ireland, Italy, Japan, Korea, Luxembourg, Netherlands, Poland, Singapore, Spain, Sweden, Switzerland, Taiwan, Tunisia and the UK. The company employs about 11,100 employees worldwide.
Eurofound (2024), Fidelity International, Internal restructuring in World, factsheet number 201199, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/201199.