Barclays

Type
Internal restructuring
Country
Portugal
Region
Location of affected unit(s)
Sector
Financial Services
Financial And Insurance Activities
Financial Service Activities, Except Insurance And Pension Funding
64 - Financial service activities, except insurance and pension funding
300 - 400 jobs
Number of planned job losses
Job loss
Announcement Date
11 February 2013
Employment effect (start)
Foreseen end date
31 December 2013

Description

The British bank Barclays has announced a dismissal of 300-400 workers and the closure of 100 branches in Portugal in an effort to recapitalize the bank.

The restructuring is expected to be implemented throughout 2013. This restructuring is part of a plan to reduce costs by approximately 2,337 million Euro.

Barclays was established in Portugal in 1981 and employs approximately 2000 people.

Sources

  • 11 February 2013: tsf

Citation

Eurofound (2013), Barclays, Internal restructuring in Portugal, factsheet number 74979, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/74979.