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 - Activities auxiliary to financial services and insurance activities
1,240 - 2,000 jobs Number of planned job losses
Announcement Date
24 January 2014
Employment effect (start)
1 February 2014
Foreseen end date
31 December 2016
Description
On 24 January 2014 Rabobank announced it will cut between 1,000 and 2,000 jobs in the coming three years as it downsizes its domestic operations. The cuts will take place at the central office in Utrecht. The bank wants to cut costs by € 220 million and to streamline the corporate structure as part of its Vision 2016 programme. The measure comes on top of earlier restructuring measures, involving some 8,000 job cuts (see here). The Dutch bank employs about 60,000 employees worldwide.
Updated, 17/05/2014: As announced, the number of job losses will be 1,240, of which 460 refer to permanent contracts. Forced dismissals are not ruled out. As reported the company mentions that the restructuring is linked only to a € 30 million cost saving plan. The final decision by the works council is expected to be taken in May.
Sources
24 January 2014: Rabobank (press release)
17 April 2014: Het Financieele Dagblad
25 January 2014: De Volkskrant
Citation
Eurofound (2014), Rabobank, Internal restructuring in Netherlands, factsheet number 76477, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/76477.
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