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

650 jobs
Number of planned job losses
Job loss
Announcement Date
8 February 2003
Employment effect (start)
1 January 2003
Foreseen end date
1 December 2003

Description

This restructuring plan is due to the merger and acquisition of the ex-Générale de Banque and the CGER, by the Dutch Fortis Group. This merger resulted in the creation of Fortis Bank Belgium. The merger of 280 agencies in Belgium will result in 650 (equivalent full time) redundancies.


Sources

Citation

Eurofound (2003), Fortis Bank Belgium, Internal restructuring in Belgium, factsheet number 59967, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/59967.