Restructuring events
European Restructuring Monitor (ERM)
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.
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.
Eurofound (2011), Barclays, Internal restructuring in Italy, factsheet number 71921, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/71921.