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
750 jobs Number of planned job losses
Announcement Date
1 December 2009
Employment effect (start)
30 November 2009
Foreseen end date
31 December 2012
Description
BNP Paribas Fortis, operating in global banking and financial services, announced that 2,000 jobs will be lost through natural wastage and 1,250 new jobs will be created by the end of 2012. The new subsidiary of the French group BNP Paribas, previously named Fortis bank, has launched an internal restructuring plan aimed at saving costs. The group
UPDATE - 3 March 2010: Although the initial number of net job losses (750) announced at the end of 2009 has remained unchanged, BNP Paribas Fortis has recently announced that it is to accelerate the recruitment for 2010. Some 1,200 workers will be recruited by the end of 2010 instead of 850 announced at the end of 2009. This move is attributed to the need to compensate for the 2,000 natural departures at the Belgian subsidiary.
Sources
1 December 2009: Wall Street Journal ()
Citation
Eurofound (2009), BNP Paribas Fortis, Internal restructuring in Belgium, factsheet number 69905, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/69905.
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