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
750 jobs Number of planned job losses
Announcement Date
15 November 2012
Employment effect (start)
15 November 2012
Foreseen end date
15 November 2015
Description
Bank and insurance group SNS Reaal announced it will cut 750 jobs in the coming three years, some 11% of the total number of employees. Background is the financial crisis, new rules for banks and, specifically for SNS Reaal, problems with the mortgage portfolio.
SNS is one of the Dutch banks that received state support in the context of the financial crisis.
Sources
16 November 2012: De Volkskrant
16 November 2012: Het Financieele Dagblad
Citation
Eurofound (2012), SNS Reaal, Internal restructuring in Netherlands, factsheet number 74618, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/74618.
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