PGGM

Type
Internal restructuring
Country
Netherlands
Region
Location of affected unit(s)
Sector
Financial / Insurance/ Estate
65 - Insurance, reinsurance and pension funding, except compulsory social security
65 - Insurance, reinsurance and pension funding, except compulsory social security
65 - Insurance, reinsurance and pension funding, except compulsory social security
100 jobs
Number of planned job losses
Job loss
Announcement Date
9 January 2004
Employment effect (start)
1 January 2004
Foreseen end date
1 December 2004

Description

The pension funding PGGM has restructured its IT department, allowing for better efficiency but therefore also less personnel to be dedicated to IT. Some 100 on the 1,200 jobs will be shed in the framework of that plan. Direct dismissals cannot be totally excluded and it is not excluded either that there will be more job losses.

Sources

  • 9 January 2004: Het Financieel Dagblad
  • 9 January 2004: De Telegraaf

Citation

Eurofound (2004), PGGM, Internal restructuring in Netherlands, factsheet number 60185, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/60185.