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 has announced a new wave of complex restructuring that will affect 460 roles throughout the UK. The plans involve 50 redundancies while 400 staff will be offered the option to relocate - this is likely to lead to further redundancies among employees who cannot move across the country to keep their jobs.
Jobs in Coventry and Birmingham will be most affected by the changes, but jobs in Canary Wharf in London, Fleet, Liverpool, Northampton, Cardiff, Belfast, Poole, Leeds, Stockton on Tees, Petersfield, and Manchester are also at risk.
Trade union Unite opposed the redundancies. The national officer of Unite commented that the decision to cut around 460 jobs will result in a large number of compulsory redundancies. In addition, the national officer added that the union will continue to negotiate with Barclays in order to discuss redeployment and outplacement support options for the employees, with a specific focus on training opportunities.
A spokesperson for the company pointed out that Barclays is moving teams closer together at the core UK sites in Glasgow, Greater Manchester and Northampton so as to invest in new campuses and office space.
In February Barclays also announced plans to cut 280 jobs from its operations in Leeds and relocate some of these positions elsewhere in the north of England.
Eurofound (2019), Barclays, Relocation in United Kingdom, factsheet number 97637, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/97637.
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