EMCC European Monitoring Centre on Change

Rabobank

Company/Organisation:
Rabobank

Geographic Location

Country: Netherlands

Company

Sector: Financial services
Financial and insurance activities
64 - Financial service activities, except insurance and pension funding
Number Employed: 28000

Employment Effects

Announcement Date: 25-07-2013
Planned Job Reductions min: 2000
Planned Job Reductions max: 2000
Type of Restructuring: Internal restructuring
Employment Effect Start: 25-07-2013
Foreseen End Date: 01-01-2016

Additional Information

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.