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 Financial Service Activities, Except Insurance And Pension Funding 64 - Financial service activities, except insurance and pension funding
55 - 90 jobs Number of planned job losses
Announcement Date
25 March 2005
Employment effect (start)
Foreseen end date
Description
The Dutch bank ABN Amro heralded a worldwide job cuts on December 2004. Management planed to reduce costs and to increase administrative units' productivity. In France, the direction decided to lay off between 55 and 90 jobs out of 400 workers in its branch specialized in firm banking jobs. This decision concerns the administrative functions of middle and back office. Since 2002, the Dutch bank suppressed around 15,000 worldwide jobs; this is the third restructuring plan in France since 2003, where already 400 jobs have been suppressed between 2003 and 2004.
Sources
25 March 2005: Les Echos
Citation
Eurofound (2005), ABN Amro, Internal restructuring in France, factsheet number 61325, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/61325.
Digitisation and automation technologies, including artificial intelligence (AI), can affect working conditions in a variety of ways and their use in the workplace raises a host of new ethical concerns.
The retail banking sector is fertile ground for studying the impacts of digitalisation on work and employment. Financial services are increasingly provided online, without the intermediary of customer-facing institutions.
European labour markets have recovered strongly from COVID-19. By the end of 2021, little more than 18 months after the start of the pandemic, employment rates in the EU were almost at pre-crisis levels.
