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.
East Midlands; Leicestershire; Rutland and Northamptonshire
Location of affected unit(s)
Northampton
Sector
Financial Services Financial And Insurance Activities Financial Service Activities, Except Insurance And Pension Funding 64 - Financial service activities, except insurance and pension funding
250 jobs Number of planned job losses
Announcement Date
19 July 2004
Employment effect (start)
Foreseen end date
Description
Barclaycard is cutting 250 jobs after merging its operations with the consumer lending operation of its parent company, Barclays bank. Garry Hoffman, chief executive of Barclaycard, said yesterday that the bank had not found the decision to lay off staff easy. But the company had to maintain a strong business 'which is here for the long term'. The bank said it was working with finance union Unifi to try to find new roles for those affected. The union said it was 'disappointed' at the job losses. The company believes it can deal with the situation through voluntary redundancies or finding alternative employment.
Sources
20 July 2004: The Guardian
Citation
Eurofound (2004), Barclaycard, Merger/Acquisition in United Kingdom, factsheet number 60480, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/60480.
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