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
90 jobs Number of planned job losses
Announcement Date
30 November 2004
Employment effect (start)
Foreseen end date
30 December 2006
Description
The insurance company Atradius will cut off 15% of its workforce before end 2006. Out of the 600 targeted jobs, 90 will be discontinued in the Belgian units of Namur and Antwerp (55O people are currently working on these two sites). In order to improve net profits, several services are to disappear, the company's strategy being to focus on its core activity.
Sources
30 November 2004: Les Echos
Citation
Eurofound (2004), Atradius, Internal restructuring in Belgium, factsheet number 60883, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/60883.
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