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
2,130 jobs Number of planned job losses
Announcement Date
13 January 2009
Employment effect (start)
Foreseen end date
Description
Barclays, a bank, has announced that it is to cut 2,130 jobs from its worldwide staff of 147,000. 1,300 jobs will go at investment department Barclays Capital, 500 at Barclays Wealth and 330 at Barclays Global Investors. It is not known at which global sites these jobs will be cut, although Unite, a UK-based trade union, has stated that 500 of the job losses will be in the UK. The bank has attributed the cuts to a need to match its staffing levels to the size of its market. These job losses are in addition to the 2,100 job cuts specific to the UK which were also announced in January 2009, and in addition to the 408 UK-based IT support jobs also cut in January 2009. As of 18 January 2009, it is not known when these jobs will be lost.
Sources
13 January 2009: BBC News
Citation
Eurofound (2009), Barclays, Internal restructuring in World, factsheet number 67855, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/67855.
Digitisation and automation technologies, including artificial intelligence (AI), can affect working conditions in a variety of ways and their use in the workplace raises a host of new ethical concerns.
The retail banking sector is fertile ground for studying the impacts of digitalisation on work and employment. Financial services are increasingly provided online, without the intermediary of customer-facing institutions.
European labour markets have recovered strongly from COVID-19. By the end of 2021, little more than 18 months after the start of the pandemic, employment rates in the EU were almost at pre-crisis levels.
