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 66.11 - Administration of financial markets
100 - 125 jobs Number of planned job losses
Announcement Date
6 February 2013
Employment effect (start)
1 March 2013
Foreseen end date
1 January 2016
Description
Deutsche Börse has announced to cut 250 positions by 2016, including 100 to 125 in Luxembourg at its subsidiary Clearstream. The company took this decision in the context of a cost saving plan of about 70 million Euros per year. Clearstream employs 3,700 employees globally, including 950 in Luxembourg. The management highlights that it will propose voluntary departures and other socially responsible measures to decrease its workforce and will avoid forced dismissal.
UPDATE 09-04-2013. Finally the management has decided not to cut jobs in Luxembourg.
Eurofound (2013), Clearstream, Internal restructuring in Luxembourg, factsheet number 74928, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/74928.
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