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 - Financial service activities, except insurance and pension funding
373 jobs Number of planned job losses
Announcement Date
30 November 2009
Employment effect (start)
Foreseen end date
31 May 2010
Description
Lloyds bank has announced plans to close its Sussex House contact centre in May 2010 resulting in the loss of 373 jobs. The change will affect 535 staff, 162 of whom will be redeployed in other sites across the UK. As with all the redundancies announced since the merger with HBOS, the move was justified by the need to integrate operations. The company committed to achieve job losses through voluntary severance and making less use of contractors and agency staff, with compulsory redundancies a "last resort". Unions expressed concerns that redemployment was not a viable option for all the affected staff.
Sources
30 November 2009: BBC News
Citation
Eurofound (2009), Lloyds, Closure in United Kingdom, factsheet number 69967, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/69967.
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.
