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
1,100 jobs Number of planned job losses
Announcement Date
10 May 2007
Employment effect (start)
1 May 2007
Foreseen end date
31 May 2010
Description
Barclays Bank has announced it will be cutting 1,100 workers over the next three years. The bank said it was shedding the staff at its offices in Poole, Dorset, as part of an efficiency drive. Barclays currently employs about 1,900 people at the site, which handles back-office functions such as payment processing and IT support. The group added that the cuts were not related to its 45.7 billion GBP proposed takeover of Dutch bank ABN Amro. Barclays, which employs 123,000 people across the world, said it was hoping to cut costs by automating many tasks, such as payment processing. Unions voiced concern at the bank's decision, but said they would be working with Barclays to ensure as many staff as possible were redeployed or took voluntary redundancy. However, the union Unite added that it welcomed the news that Barclays would be moving to a new, smaller building in the area, so ending speculation it would leave Poole altogether.
Sources
10 May 2007: BBC Website
Citation
Eurofound (2007), Barclays, Internal restructuring in United Kingdom, factsheet number 65336, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/65336.
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