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
New offshoring locations
Not Available
370 jobs Number of planned job losses
Announcement Date
23 March 2010
Employment effect (start)
23 March 2010
Foreseen end date
31 December 2013
Description
Deutsche Boerse, provider of the Frankfurt stock exchange, announced it will cut 370 jobs at its sites in Frankfurt and Luxembourg. Two-thirds of the jobs are to be relocated to its site in Prague. The job reduction is part of a cost saving plan which is expected to be completed by 2013. Deutsche Boerse hopes that costs will be reduced by €100 million per year from 2013 onwards in an efficiency drive.
Sources
23 March 2010: Frankfurter Allgemeine Zeitung
: ()
Citation
Eurofound (2010), Deutsche Boerse, Offshoring/Delocalisation in European Union, factsheet number 70339, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/70339.
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