Investec

Type
Internal restructuring
Country
United Kingdom
Region
London; Inner London - East;
Location of affected unit(s)
London
Sector
Financial / Insurance/ Estate
64 - Financial service activities, except insurance and pension funding
64 - Financial service activities, except insurance and pension funding
64 - Financial service activities, except insurance and pension funding
210 jobs
Number of planned job losses
Job loss
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.

Sources

Citation

Eurofound (2020), Investec, Internal restructuring in United Kingdom, factsheet number 102090, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/102090.