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.
Information / Communication Computer Programming, Consultancy And Related Activities Computer Programming, Consultancy And Related Activities 62 - Computer Programming, Consultancy And Related Activities
124 jobs Number of planned job losses
Announcement Date
7 November 2024
Employment effect (start)
30 November 2024
Foreseen end date
Description
Cisco, a US-based IT multinational has announced it will dismiss around a quarter of its Belgian workforce. The customer support facility in Machelen is closing which will lead to 124 employees losing their jobs. The restructuring measure frames larger global austerity measures by the company. It intends to reduce its costs by reducing 7% of its total global workforce. The dismissals aren't the first ones in Belgium, in February already 25 Belgian employees were dismissed. The obligatory consultation and information phases have been initiated, as prescribed by the Renault Law.
Eurofound (2024), Cisco, Internal restructuring in Belgium, factsheet number 201948, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/201948.
Digitisation and automation technologies, including artificial intelligence (AI), can affect working conditions in a variety of ways and their use in the workplace raises a host of new ethical concerns.
The retail banking sector is fertile ground for studying the impacts of digitalisation on work and employment. Financial services are increasingly provided online, without the intermediary of customer-facing institutions.
European labour markets have recovered strongly from COVID-19. By the end of 2021, little more than 18 months after the start of the pandemic, employment rates in the EU were almost at pre-crisis levels.
