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 Activities Auxiliary To Financial Services And Insurance Activities Activities Auxiliary To Financial Services And Insurance Activities 66 - Activities auxiliary to financial services and insurance activities
New offshoring locations
Czechia
160 - 500 jobs Number of planned job losses
Announcement Date
28 October 2011
Employment effect (start)
1 January 2012
Foreseen end date
1 January 2015
Description
On the 28th of October, bank assurer KBC has announced to restructure its services leading from 160 to 500 redundancies. It is reported that part of its business activities will be relocated to the Czech Republic at Brno.
The head management explained this decision by internal costs control policies and the decision to group certain activities in the Czech Republic. Some services of the group (such as accountancy) are located at Brno.
The complete impact and timeline of the restructuring plan is still unclear. Conflicting information of KBC and the Labour Union speak about between 150 and 500 threatened jobs.
The social partners are presently engaged in the bargaining procedure.
Sources
28 October 2011: L'Echo
Citation
Eurofound (2011), KBC, Offshoring/Delocalisation in Belgium, factsheet number 72677, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/72677.
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.
