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.
Rabobank, the Dutch cooperative bank announced 5,000 job cuts in the Netherlands.
The bank made a profit of €1 billion in 2020, 50% lower in comparison with 2019. The low-interest rates are named as the most important cause for reduced profitability. Most job cuts will occur at the bank’s local offices, with the number of offices being reduced from 230 to 130 by 2026. The bank will focus more on digital services, a strategy that was already adopted and has been accelerated by the COVID-19 pandemic.
The job cuts will be evenly spread over the next five years and will mostly be achieved through natural attrition and retraining of employees. However, forced dismissals may also be necessary.
According to the bank, the great lower profits underlines the need for a reorganisation.
Rabobank is one of the three largest banks in the Netherlands and has 43,000 employees worldwide.
Eurofound (2021), Rabobank, Internal restructuring in Netherlands, factsheet number 103545, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/103545.
This working paper offers a comprehensive methodological overview of the European Restructuring Monitor (ERM) databases. Even though the methodology has not changed over time, new categories have been added, and the way it has been used by researchers and policymakers...
This Eurofound research paper explores key trends in restructuring in recent years, highlighting the companies that announced the largest job losses and job gains in the EU. It builds on an analysis of company announcements recorded in Eurofound’s European Restructuring...
In 2023, thousands of workers in big tech lost their jobs. Meta, Amazon, Google, Apple, Microsoft and Salesforce had been considered to offer good and secure jobs up to this point. Giants of the information and communication technology (ICT) sector,...
In 2024, the automotive sector in the EU came to the fore in public and policy discussions. The focus was on the slowdown in electric vehicle (EV) sales, rising global competition, belated investments in new technologies, and the potential closure...
The more employee monitoring resembles surveillance – with its systematic, continuous and detailed tracking of employees' activities, behaviours or communications – the greater the potential for infringement of both privacy and data protection rights. Although the EU General Data Protection...
Since 2013, Eurofound's ERM database on restructuring-related legislation has been documenting regulatory developments in the Member States of the European Union and Norway which are explicitly or implicitly linked to anticipating and managing change. The most recent update to the...
