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.
HSBC, a multi-national group that operates in the financial services sector, has announced that it is to create 250 new jobs at a call centre that it operates in Newport. 250 are currently employed at the Newport site, and the creation of the new jobs will involve an investment of 14 million GBP. The group stated that it chose to invest in the Newport site because of the quality of staff and financial backing from the Welsh Assembly Government. Ieuan Wyn Jones, Deputy First Minister at the Welsh Assembly Government, said the decision by HSBC demonstrated the strength of the Welsh call centre industry. He stated:
‘The fact that HSBC chose to invest in Wales, rather than competing locations, is a tribute to the quality of the existing workforce and a significant boost to the local economy and to the Welsh financial services sector.’
Alan Jarman, HSBC's chief executive for Wales, stated:
‘Our customers are increasingly choosing to bank online and over the phone, and our resources need to reflect this. HSBC chose to invest in Newport because of our skilled local workforce and our confidence that we can continue to recruit high quality people over the next two years and beyond.’
HSBC is a multi-national financial services group that operates sites in several international locations. It employs approximately 330,000 internationally. It employs approximately 2,700 in Wales. As of June 2008, there is no specific information on when the new jobs will be created.
Eurofound (2008), HSBC, Business expansion in United Kingdom, factsheet number 66762, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/66762.
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