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.
The Dutch bank ING has announced a job loss of 300 out of 1000 jobs in the department servicing small and medium-sized enterprises, to be completed by August 2016. The job losses are the result of the digitalisation of services, meant to make service and credit provision quicker and accessible through mobile services. Jobs will be lost among management, advisory, customer relations and support personnel. As many of the job losses as possible will occur through natural attrition and dismissed employees will receive guidance to find other employment. It is likely that these job reductions are part of the massive job reductions announced in November 2014, when ING stated that 1700 full time jobs and an additional 1075 external jobs (externally hired personnel and agency workers) would be lost in the following three years, concentrated at the head office, the IT department, and call centres. The job cuts at the head office were announced in June 2015.
Eurofound (2016), ING, Internal restructuring in Netherlands, factsheet number 87602, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/87602.
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