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
900 jobs Number of planned job losses
Announcement Date
4 June 2009
Employment effect (start)
1 January 2009
Foreseen end date
31 March 2009
Description
Throughout the first three months of 2009, Fortis bank lost around 900 jobs worldwide. Among those 900 jobs, around 400 were lost in Germany through the suppression of the retail division (factsheet 12447) and 350 jobs were lost in the United States after collective redundancies in the 'merchant bank' division. The other 150 jobs were lost in Belgium (see factsheet 14340) essentially through the non replacement of the workers who leave (retirement, redundancies, end of contract and voluntary resignations). Fortis bank was severely concerned by the financial crisis and had to sell many of its divisions all around the world.
Sources
4 June 2009: Le Soir
Citation
Eurofound (2009), Fortis, Internal restructuring in World, factsheet number 69522, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/69522.
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