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 Group Operations Centre Lithuania, the British bank's strategic centre for technologies and services, is to dismiss around 340 employees in Vilnius at the beginning of 2019. The company has announced that it is leaving Lithuania and transferring its activities to the Indian leading technology company HCL Technologies. Barclays will close its Operations Centre in Lithuania, transferring 460 staff to HCL Technologies and offering redundancy packages to the remaining employees. Currently the Operations Centre in Lithuania employs 800 employees. The contract between Barclays Group Operations Centre and HCL Technologies is expected to be finalised during the first quarter of 2019.
Barclays Group Operations Center Lithuania, established in 2009, is part of the international Barclays financial services group, which provides personal, business and investment banking and asset and investment management services in over 40 countries.
HCL Technologies is an Indian multinational technology company offering integrated portfolio of technological products, solutions, services for their clients. The company operates in 43 countries and their consolidated revenues have constituted around US$ 8.2 billion in 2018.
Eurofound (2018), Barclays Group Operations Centre Lithuania, Closure in Lithuania, factsheet number 95998, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/95998.