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

350 - 400 jobs
Number of planned job losses
Job loss
Announcement Date
22 September 2014
Employment effect (start)
1 October 2014
Foreseen end date
31 December 2014

Description

Barclays bank announced the closure of 60 to 70 branches in Portugal. This will result in the dismissal of 350 to 400 employees. The job reduction measure will take place by the first quarter of 2015 and will be implemented by means of voluntary redundancies.

Barclays currently employs 1,464 people in Portugal and has 147 branches.

For a previous restructuring event see BarclaysPT-2013.


Sources

  • 22 September 2014: Diário Económico

Citation

Eurofound (2014), Barclays, Internal restructuring in Portugal, factsheet number 77677, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/77677.