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 64.19 - Other monetary intermediation
290 jobs Number of planned job losses
Announcement Date
28 September 2012
Employment effect (start)
1 November 2012
Foreseen end date
3 June 2013
Description
On 28 September, Cheuvreux, a subsidiary of group Crédit Agricole specializing in brokerage activities, has announced a restructuring plan, which will result in the loss of 290 jobs from a total of 358 employees.
About 80% of the positions will be cut. This decision is a result of the merger of Cheuvreux with its competitor Kepler. The French bank has initiated a process of selling its brokerage subsidiaries. The management will propose to replace employees within the group Crédit Agricole. The restructuring plan is European wide, with a total of 500 job losses from a total of 700.
Eurofound (2012), Crédit Agricole Cheuvreux, Merger/Acquisition in France, factsheet number 74220, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/74220.
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