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 64.9 - Other financial service activities, except insurance and pension funding
300 jobs Number of planned job losses
Announcement Date
8 July 2008
Employment effect (start)
Foreseen end date
Description
Home Loans company Firstplus has announced that it is to cut 300 jobs from its Cardiff operations. It currently employs 430 staff at the site. The job losses follow the decision by the company to stop offering new loans from August 9th as a result of reduced demand. The company has said that redeployment opportunities will be sought for staff across the Barclays business. Trade Union Unite has said that it understands that the Firstplus product may not be viable, however it condemns the decision to cut 300 jobs in Cardiff suggesting that work from other parts of Barclays business could be transferred to the site.
Sources
8 July 2008: BBC Website
Citation
Eurofound (2008), Firstplus, Internal restructuring in United Kingdom, factsheet number 66828, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/66828.
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