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 64.99 - Other financial service activities, except insurance and pension funding n.e.c.
210 jobs Number of planned job losses
Announcement Date
14 September 2020
Employment effect (start)
Foreseen end date
Description
Investec, the British-South African global banking and wealth management group has announced that it will cut 210 jobs in its London offices as part of an ongoing restructure. According to media sources, the job cuts will affect support roles in the group’s banking arm.
The chief executive said the reduced economic activity and market volatility caused by the COVID-19 pandemic had contributed to the pessimistic forecasts for the business.
Investec provides a range of financial products and services to clients in Europe, South Africa and Asia-Pacific. The group employs over 3,000 people in the UK.
Eurofound (2020), Investec, Internal restructuring in United Kingdom, factsheet number 102090, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/102090.
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