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.
BNP Paribas Fortis, operating in global banking and financial services, announced that 2,000 jobs will be lost through natural wastage and 1,250 new jobs will be created by the end of 2012. The new subsidiary of the French group BNP Paribas, previously named Fortis bank, has launched an internal restructuring plan aimed at saving costs. The group
UPDATE - 3 March 2010: Although the initial number of net job losses (750) announced at the end of 2009 has remained unchanged, BNP Paribas Fortis has recently announced that it is to accelerate the recruitment for 2010. Some 1,200 workers will be recruited by the end of 2010 instead of 850 announced at the end of 2009. This move is attributed to the need to compensate for the 2,000 natural departures at the Belgian subsidiary.
Eurofound (2009), BNP Paribas Fortis, Internal restructuring in Belgium, factsheet number 69905, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/69905.
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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