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
1,230 jobs Number of planned job losses
Announcement Date
13 July 2011
Employment effect (start)
1 January 2012
Foreseen end date
31 December 2013
Description
On 13 July 2011 Rabobank announced it will cut 1,230 jobs at its head office in Utrecht, out of a total of 6,400. There are currently around 2,500 external employees working there. The bank intends to bring this down to 854. Another 376 employees with a Rabobank employment conctract will be also made redundant.
The job cuts are due to the need to boost competitiveness and efficiency. Rabobank denies that the restructuring is a consequence of the financial crisis, which left the bank more or less undamaged. In the coming months the bank will negotiate with the works council and the unions. A final decision will be taken at the end of 2011.
Sources
13 July 2011: De Volkskrant
13 July 2011: Het Financieele Dagblad
Citation
Eurofound (2011), Rabobank, Internal restructuring in Netherlands, factsheet number 72190, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/72190.
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