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.
Barclaycard, the subsidiary of the multi-national financial services group Barclays, has announced that it is to close its site in Northampton with the loss of approximately 160 jobs. The Northampton site produces credit cards and mails statements to Barclaycard customers, and will close by the end of 2008. The work carried out at the Northampton site will be ‘outsourced’ to firms operating in the UK. Print production will be ‘outsourced’ to a firm in Buckinghamshire, mailing operations will be ‘outsourced’ to Leicestershire, and card operations will be ‘outsourced’ to Hampshire. Employees at the Northampton site have been informed of Barclaycard’s plan, and will be employed at the site until its closure at the end of 2008. For a further three month period after the closure, employees will receive full pay whilst they search for alternative employment.
Eurofound (2008), Barclaycard, Outsourcing in United Kingdom, factsheet number 66273, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/66273.