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.
Quintet, a Luxembourg-based private banking group, has announced plans to cut around 300 jobs globally over the next three years.
The cuts will affect employees in about 30 cities across Europe and the United Kingdom. So far, there is no detailed information on the number of dismissals in individual countries.
The bank stated that most of the reduction is expected to be achieved through natural attrition, redeployment and the elimination of vacant roles rather than compulsory redundancies. Quintet has also indicated that employees whose roles are eliminated will be encouraged to apply for other positions within the group, supported by internal mobility and reskilling measures. The measure is part of a strategy to improve profitability and organisational effectiveness.
Quintet employs about 1,650 people worldwide. It operates in Luxembourg, Belgium, Germany, the Netherlands, Denmark, and the United Kingdom.
Eurofound (2025), Quintet , Internal restructuring in World, factsheet number 203863, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/203863.