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.
East Midlands; Leicestershire; Rutland and Northamptonshire
Location of affected unit(s)
Northampton
Sector
Financial Services Financial And Insurance Activities Financial Service Activities, Except Insurance And Pension Funding 64.9 - Other financial service activities, except insurance and pension funding
160 jobs Number of planned job losses
Announcement Date
5 February 2008
Employment effect (start)
Foreseen end date
31 December 2008
Description
Barclaycard, the subsidiary of the multi-national financial services group Barclays, has announced that it is to close its site in Northampton with the loss of approximately 160 jobs. The Northampton site produces credit cards and mails statements to Barclaycard customers, and will close by the end of 2008. The work carried out at the Northampton site will be ‘outsourced’ to firms operating in the UK. Print production will be ‘outsourced’ to a firm in Buckinghamshire, mailing operations will be ‘outsourced’ to Leicestershire, and card operations will be ‘outsourced’ to Hampshire. Employees at the Northampton site have been informed of Barclaycard’s plan, and will be employed at the site until its closure at the end of 2008. For a further three month period after the closure, employees will receive full pay whilst they search for alternative employment.
Sources
5 February 2008: BBC News
Citation
Eurofound (2008), Barclaycard, Outsourcing in United Kingdom, factsheet number 66273, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/66273.
Digitisation and automation technologies, including artificial intelligence (AI), can affect working conditions in a variety of ways and their use in the workplace raises a host of new ethical concerns.
The retail banking sector is fertile ground for studying the impacts of digitalisation on work and employment. Financial services are increasingly provided online, without the intermediary of customer-facing institutions.
European labour markets have recovered strongly from COVID-19. By the end of 2021, little more than 18 months after the start of the pandemic, employment rates in the EU were almost at pre-crisis levels.
