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.
Financial Services Financial And Insurance Activities Financial Service Activities, Except Insurance And Pension Funding 64 - Financial service activities, except insurance and pension funding
350 jobs Number of planned job losses
Announcement Date
10 October 2007
Employment effect (start)
10 October 2007
Foreseen end date
31 December 2008
Description
Barclays Wealth, a firm that operates in the wealth management sector and is a subsidiary of Barclays Bank Group, is to cut 350 jobs in Peterborough. The firm will relocate 200 support jobs to Glasgow and 150 other jobs to London. Management at the firm have attributed the need to relocate to the recent expansion of the firm’s business. Those workers affected will be given the chance to relocate, but those who do not wish to relocate will be provided with a support package. The changes will be implemented from October 2007 to December 2008.
Sources
10 October 2007: BBC News
Citation
Eurofound (2007), Barclays Wealth, Relocation in United Kingdom, factsheet number 65916, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/65916.
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