3i Group

Type
Internal restructuring
Country
World
Region
Location of affected unit(s)
Barcelo (Spain), Birmingham (United Kingdom), Hong Kong, Shanghai (Chi), New York (United States), other locations
Sector
Financial / Insurance/ Estate
64 - Financial service activities, except insurance and pension funding
64 - Financial service activities, except insurance and pension funding
64 - Financial service activities, except insurance and pension funding
160 jobs
Number of planned job losses
Job loss
Announcement Date
29 June 2012
Employment effect (start)
30 June 2012
Foreseen end date
31 December 2013

Description

Financial investment group 3i Group intends to cut 160 jobs worldwide, almost a third of its total staff. 

The company will close six of its offices, including branches in Barcelona, Birmingham, Hong Kong and Shanghai. 3i Group will also reduce the headcount at its 13 other offices.

The internal restructuring is part of a cost-savings programme that should substantially reduce the expenditures of 3i Group by 2014.

Sources

  • 29 June 2012: The Financial Times

Citation

Eurofound (2012), 3i Group, Internal restructuring in World, factsheet number 73834, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/73834.