Restructuring events
European Restructuring Monitor (ERM)
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.
The French subsidiary of Fortis, the Belgo-Dutch banking group, announced on 13 June 2007 that the company is planning to cut 250 jobs, about 8% of its total staff, closing seven branches and merging another ten. The bank says the planned cuts are designed to simplify its organisation and improve its performance. The changes will take place over 24 months between July 2007 and July 2009 and they will affect both the group's headquarters and its branch network.
Eurofound (2007), Fortis, Internal restructuring in France, factsheet number 65486, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/65486.