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
850 jobs Number of planned job losses
Announcement Date
15 December 2011
Employment effect (start)
1 January 2012
Foreseen end date
31 December 2012
Description
On December 15th the French bank Crédit Agricole has announced that it is to cut 850 jobs in France by December 2012. The restructuring will mainly affect the bank's Corporate and Investment Banking arm BFI, where 550 jobs will be cut in France. The measure is part of a worldwide restructuring which will affect 2350 employees (see here).
The management is reported wanting to avoid forced redundancies and will propose internal mobility and voluntary departures.
Eurofound (2011), Crédit agricole, Internal restructuring in France, factsheet number 72853, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/72853.
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