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.
Région Bruxelles-Capitale / Brussels Hoofdstedelijke Gewest;
Location of affected unit(s)
Brussels
Sector
Financial Services Financial And Insurance Activities Financial Service Activities, Except Insurance And Pension Funding 64 - Financial service activities, except insurance and pension funding
New offshoring locations
Portugal
124 jobs Number of planned job losses
Announcement Date
23 June 2017
Employment effect (start)
1 January 2018
Foreseen end date
31 December 2019
Description
BNP Paribas Fortis, a Belgian subsidiary of French multinational bank BNP Paribas, has announced the relocation of 124 of its jobs. All employees affected are white collar workers in IT support functions. The main reasoning behind the internal restructuring is to reduce costs since a significant portion of the IT infrastructure of the BNP Paribas group is already provided from Lisbon. BNP Paribas management states no direct dismissals will take place, instead new functions will be sought for the affected employees within the company and externally.
Last year BNP Paribas Fortis relocated their international payments department to Lisbon as well, which led to the dismissal of 55 employees.
Sources
23 June 2017: De Tijd
23 June 2017: De Morgen
Citation
Eurofound (2017), BNP Paribas Fortis, Offshoring/Delocalisation in Belgium, factsheet number 91350, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/91350.
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