Restructuring events
European Restructuring Monitor (ERM)
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.
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.
Eurofound (2016), Crelan, Internal restructuring in Belgium, factsheet number 89003, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/89003.