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.
Région Bruxelles-Capitale / Brussels Hoofdstedelijke Gewest;
Location of affected unit(s)
Bruxelles
Sector
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
Poland
500 jobs Number of planned job losses
Announcement Date
14 October 2011
Employment effect (start)
Foreseen end date
1 January 2017
Description
On October 14th the head management of Euroclear, a financial services company, has announced their plan to relocate part of their activities to Poland. 500 jobs are concerned by this restructuring plan for the coming five years.
The head management stated that there will be no direct dismissals. According to Euroclear, the jobs will be eliminated by attrition. The head management justified this decision by difficulties with finding qualified personnel and high labour costs in Belgium.
Sources
14 October 2011: Le Soir
Citation
Eurofound (2011), Euroclear, Offshoring/Delocalisation in Belgium, factsheet number 72596, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/72596.
Digitisation and automation technologies, including artificial intelligence (AI), can affect working conditions in a variety of ways and their use in the workplace raises a host of new ethical concerns.
The retail banking sector is fertile ground for studying the impacts of digitalisation on work and employment. Financial services are increasingly provided online, without the intermediary of customer-facing institutions.
European labour markets have recovered strongly from COVID-19. By the end of 2021, little more than 18 months after the start of the pandemic, employment rates in the EU were almost at pre-crisis levels.
