I L O Forum
| ||||||||
The decade long wave of mergers and acquisitions (M&A) that is reshaping the world's banking and financial service sectors is accelerating aggregate employment declines in an industry that was traditionally characterized by stable employment. A wave of mega-mergers of banks is gathering strength also in Japan. The ILO held a tripartite meeting on the employment impact of M&As in the banking and financial services sector in February 2001. "Two-thirds of M&As fail to achieve their objectives," says the report prepared for the meeting. According to the report, "the benefit of size and economies of scale are usually nullified by increased complexity and losses related to top-heavy organizations, while the difficulties of adequately blending cultural and other human factors in the integration of the combined enterprises are often underestimated." It says that social dialogue at different levels can be an effective tool in meeting the challenges associated with M&As. Conclusions adopted at the meeting recognize the essential role social dialogue can play in reconciling the interests of enterprises and workers in M&As and request constituents to take measures to mitigate negative consequences of M&As for workers. The ILO Tokyo Branch Office held a Forum celebrating the publication of the Japanese version of both the report and note on the proceedings of the meeting by UNI-APRO. ILO officials, who had been in charge of the meeting, made a presentation on the outcome of the meeting and its follow-up activities, including on the Asian Regional Seminar to Promote Social Dialogue on M&As in Financial Services, which was held in the end of October in Manila, while representatives of government and workers' and employers' organizations reported on social dialogue and M&As in the banking and financial services sector in Japan. | ||||||||
| ||||||||
Thursday, 7 November 2002 13:30 - 17:00 | ||||||||
| ||||||||
UNU Headquarters Bldg. 5th Floor, Committee Room II & III (5-53-70 Jingumae, Shibuya-ku; 10 minutes walk from Omotesando or Shibuya stations) | ||||||||
| ||||||||
|
D a t e