Restructuring events
European Restructuring Monitor (ERM)
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.
HSBC, a multi-national group that operates in the financial services sector, has announced that it is to cut its workforce by 2217. This will be implemented by making 3,167 people redundant and creating 950 new jobs. Most of the posts being lost are in the senior and middle management.
In August 2011, the company had announced to cut 25,000 jobs worldwide until 2013 (see here).
Eurofound (2012), HSBC, Internal restructuring in United Kingdom, factsheet number 73692, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/73692.