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
160 jobs Number of planned job losses
250 jobs Number of planned job creations
Announcement Date
25 October 2016
Employment effect (start)
1 November 2016
Foreseen end date
Description
Crelan, a Belgian bank, has announced that it is cutting 160 of its approximately 837 employees in Belgium, all of them white collar workers. The dismissals are part of an effort to reduce costs within the company. The company directors state they will try to keep the number of direct dismissals as low as possible and opt for natural attrition, early retirement and internal mobility in the first instance. Trade unions have indicated their regret at the layoffs but also their relief that losses are not higher.
Sources
26 October 2016: De Standaard
26 October 2016: De Morgen
Citation
Eurofound (2016), Crelan, Internal restructuring in Belgium, factsheet number 89003, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/89003.
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