EMCC European Monitoring Centre on Change

Fortis Bank Belgium

Company/Organisation:
Fortis Bank Belgium

Geographic Location

Country: Belgium

Company

Sector: Financial services
Financial and insurance activities
64 - Financial service activities, except insurance and pension funding
Number Employed: 10300
Group: Fortis

Employment Effects

Announcement Date: 08-02-2003
Planned Job Reductions min: 650
Planned Job Reductions max: 650
Type of Restructuring: Internal restructuring
Employment Effect Start: 01-01-2003
Foreseen End Date: 01-12-2003

Additional Information

This restructuring plan is due to the merger and acquisition of the ex-Générale de Banque and the CGER, by the Dutch Fortis Group. This merger resulted in the creation of Fortis Bank Belgium. The merger of 280 agencies in Belgium will result in 650 (equivalent full time) redundancies.