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.
Financial Services Financial And Insurance Activities Insurance, Reinsurance And Pension Funding, Except Compulsory Social Security 65 - Insurance, reinsurance and pension funding, except compulsory social security
600 jobs Number of planned job losses
Announcement Date
29 November 2004
Employment effect (start)
Foreseen end date
31 December 2006
Description
Dutch credit insurance company Atradius NV will cut at least 600 jobs (15 % of its workforce) in the next two years, the company said on 29 November 2004. In the Netherlands, Atradius will cut 90 jobs. The rest of the job cuts will affect the company's operations in Belgium, Germany and the UK. The job cuts are part of a reorganisation, aimed at a decrease in costs and an improvement in Atradius' competition position. As part of the reorganisation, the units of Atradius which are not enough profitable, will be sold.
Sources
29 November 2004: De Financiële Telegraaf
30 November 2004: Provinciale Zeeuwse Courant
29 November 2004: Atradius - Press release
Citation
Eurofound (2004), Atradius, Internal restructuring in European Union, factsheet number 60822, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/60822.
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