Restructuring events
European Restructuring Monitor (ERM)
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.
Barclays Bank has announced the cut of 1100 positions in Spain. The measure, which is part of a global plan aiming to restructure the group, will imply the closure of 160 branches in Spain. According to the announcement there are negotiations with the unions and there is a possibility that Barclays will apply for a redundancy procedure.
This plan is implemented in the context of a worldwide restructuring affecting 3,700 jobs in France, Spain, Italy and Portugal (see here).
Update 13-05-2013 Barclays has reached an agreement with employees’ representatives which reduces the number of the job losses from 1,100 (the original labour force adjustment plan) to 890 out of its 3,600 workforce. Some of the dismissals will be implemented by means of early retirement plans (for workers older than 52 years) and voluntary redundancies.
Eurofound (2013), Barclays, Internal restructuring in Spain, factsheet number 75061, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/75061.