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.
Barclays, the UK-based investment bank, has announced an internal restructuring plan that willaffcet 1,145 roles.
The company will close a processing centre in Leeds by the end of 2020, putting at risk 800 jobs. The bank has also announced further restructuring affecting 345 staff in 20 locations across the country.
The site of Leeds will register a 290 jobs cut in technology, operations, and customer service. Other 270 staff of the same site will be offered the option to relocate and this is likely to lead to further redundancies among employees who cannot move to keep their jobs. Another 100 staff will have the option to work from home. In the rest of the country, 50 jobs will be cut, while the remainder will be relocated. A spokesperson for the company declared that Barclays is moving teams closer together in Manchester, Northampton and Glasgow.
The national officer of trade union Unite commented that closing the site in Leeds will be devastating and added that the scale of the job cuts was alarming.
Barclays is a British multi-national group operating in several countries, encompassing United Kingdom, India, United States and Singapore.
Eurofound (2020), Barclays, Internal restructuring in United Kingdom, factsheet number 100116, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/100116.
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