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 64.19 - Other Monetary Intermediation
No information on job gains number available
Announcement Date
21 April 2016
Employment effect (start)
1 April 2016
Foreseen end date
1 December 2016
Description
Barclays has confirmed that it is looking to reduce its presence in several countries. After closing British expatriates' bank accounts where worth less than £100,000 in Malta, Greece and Cyprus, in 2015, Barclays is proceeding with further reductions in its presence overseas. It is planning to shut down its Cypriot offices while services to Cyprus-based customers will continue to be provided from its UK-based offices. The bank plans to close both its offices in Limassol and Nicosia, noting that “the majority of Barclays’ clients in Cyprus have bank accounts based in London and will continue to receive banking services from London.”
Eurofound (2016), Barclays, Reshoring in United Kingdom, factsheet number 224, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/224.
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