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
117 jobs Number of planned job losses
Announcement Date
29 April 2011
Employment effect (start)
Foreseen end date
1 June 2012
Description
Barclays, one of the world's leading banks, is to cut 170 jobs by the end of 2012. According to the bank, the reorganisation plan aims to improve and strengthen its business in Italy.
In Italy Barclays has around 1,800 employees.
After some months of negotiations, Barclays and the main sectoral trade unions reached an agreement on the job-cuts. The agreement envisages 92 job-cuts rather than 170 (during the last months, 25 workers have voluntary resigned). Moreover, the agreement provides for the recourse to the sectoral "solidarity fund" and economic incentives for the redundant workers.
Sources
29 April 2011: Il corriere della sera
14 June 2011: Il Sole 24 Ore
Citation
Eurofound (2011), Barclays, Internal restructuring in Italy, factsheet number 71921, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/71921.
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.
