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 Bank has announced it will be cutting 1,100 workers over the next three years. The bank said it was shedding the staff at its offices in Poole, Dorset, as part of an efficiency drive. Barclays currently employs about 1,900 people at the site, which handles back-office functions such as payment processing and IT support. The group added that the cuts were not related to its 45.7 billion GBP proposed takeover of Dutch bank ABN Amro. Barclays, which employs 123,000 people across the world, said it was hoping to cut costs by automating many tasks, such as payment processing. Unions voiced concern at the bank's decision, but said they would be working with Barclays to ensure as many staff as possible were redeployed or took voluntary redundancy. However, the union Unite added that it welcomed the news that Barclays would be moving to a new, smaller building in the area, so ending speculation it would leave Poole altogether.
Eurofound (2007), Barclays, Internal restructuring in United Kingdom, factsheet number 65336, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/65336.
This working paper offers a comprehensive methodological overview of the European Restructuring Monitor (ERM) databases. Even though the methodology has not changed over time, new categories have been added, and the way it has been used by researchers and policymakers...
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