EMCC European Monitoring Centre on Change

Vestia

Company/Organisation:
Vestia

Geographic Location

Country: Netherlands

Company

Sector: Public administration and defence
Public administration and defence; compulsory social security
84.12 - Regulation of the activities of providing health care, education, cultural services and other social services, excluding social security
Number Employed: 1150

Employment Effects

Announcement Date: 05-06-2013
Planned Job Reductions min: 250
Planned Job Reductions max: 250
Type of Restructuring: Internal restructuring
Employment Effect Start: 06-06-2013

Additional Information

On 5 June housing corporation Vestia announced it will cut 250 jobs. Vestia faces serious financial problems due to losses on risky financial derivatives. The restructuring comes on top of earlier measures in September 2012 (see here).