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
3,700 jobs Number of planned job losses
Announcement Date
12 February 2013
Employment effect (start)
23 January 2013
Foreseen end date
Description
British financial services provider Barclays announced to cut 3,700 jobs worldwide. The bank will cut up to 1,800 jobs at its investment bank branch and 1,900 jobs in retail and business banking. The jobs in retail and business banking will be lost in continental Europe, while the investment bank losses will take place in Europe, Asia and the United States.
Barclays current employs some 140,000 people worldwide. It is not yet clear when the restructuring will be implemented by.
Sources
22 January 2013: Financial Times
12 February 2013: BBC News
Citation
Eurofound (2013), Barclays, Internal restructuring in World, factsheet number 74809, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/74809.
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.
