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 64.11 - Central banking
400 jobs Number of planned job losses
Announcement Date
10 August 2010
Employment effect (start)
Foreseen end date
Description
Barclays Capital is to cut jobs across the world after a slowdown in activity. The unit of British lender Barclays Plc (BARC.L) will cut about 400 back-office jobs in Asia, Europe and the United States. The cuts will affect only the back-office staff.
The cuts come despite Barclays Capital announcing a 225pc increase in profits last week as the UK lender smashed City earnings forecast for the first six months of the year. However, top-line revenues were down sharply on 2009, with major divisions such as fixed income, currencies and commodities, and equities and prime services falling year-on-year.
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.
