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 64.9 - Other financial service activities, except insurance and pension funding
250 jobs Number of planned job losses
Announcement Date
8 August 2018
Employment effect (start)
Foreseen end date
Description
The Dutch bank ABN Amro announced that it will cut 250 jobs from its corporate and institutional banking (CIB) division, which in August 2018 employs around 2,600 people. The reduction in positions is intended to save €80 million a year. Due to increasingly strict capital requirements for banks, the CIB uses a growing share of the available capital of the bank which was no longer justified due to the relatively small share of the profit that is generated by this branch.
This reorganisation at ABN Amro comes on top of restructuring rounds announced in 2016, which across divisions will lead to an expected total number of job reductions between 2,500 and 2,900 by 2020.
Sources
Citation
Eurofound (2018), ABN Amro, Internal restructuring in Netherlands, factsheet number 94826, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/94826.
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