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.
HSBC in France, a subsidiary of HSBC Holdings, provides financial services to businesses and individuals. HSBC has announced the cut of more than 10% of its jobs in France, equating to 348 jobs. The company employs around 3,000 people in France.
The concerned jobs are in support and commercial sectors. This decision is in line with the bank's new strategy under its new general director to pursue economic growth, establish itself in markets with competitive advantage, and prevent further American tariffs. For example, turning and reinforcing the company's presence and activities in the Asian and Middle Eastern markets. The company also sold its insurance activities at the end of 2024 to the mutualist insurer Matmut. It has been assured that Paris is going to stay one of the main platforms for the management of the company's European activities.
There latest restructuring events recorded in the ERM database is a merger/acquisition activity in 2024 with 1,400 job cuts Crédit Commercial de France 2024 - FR.
Eurofound (2025), HSBC, Internal restructuring in France, factsheet number 202738, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/202738.
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...
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