Rabobank

Type
Internal restructuring
Country
Netherlands
Region
Location of affected unit(s)
Sector
Financial / Insurance/ Estate
64 - Financial service activities, except insurance and pension funding
64 - Financial service activities, except insurance and pension funding
64 - Financial service activities, except insurance and pension funding
2,000 jobs
Number of planned job losses
Job loss
Announcement Date
25 July 2013
Employment effect (start)
25 July 2013
Foreseen end date
1 January 2016

Description

Dutch cooperative bank Rabobank announced it will probably cut 2,000 extra jobs on top of the 6,000 announced earlier (see Rabobank 2013 and Rabobank 2012).

As a result, the total number of jobs will decrease from 28,000 now to 20,000 by 2016.

Some 300 out of 800 branches will be closed.

Rabobank will invest heavily in mobile banking and sees less furure for branch offices. Furthermore, after intensive negotiations, Rabobank entered into a new subdued collective labour agreement, which will remain in effect until 1 January 2016.

Sources

  • 22 August 2013: Rabobank (press release)
  • 25 July 2013: NRC Handelsblad

Citation

Eurofound (2013), Rabobank, Internal restructuring in Netherlands, factsheet number 75653, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/75653.