Barclays

Type
Internal restructuring
Country
Italy
Region
Location of affected unit(s)
Sector
Financial / Insurance/ Estate
64 - Financial service activities, except insurance and pension funding
64 - Financial service activities, except insurance and pension funding
64 - Financial service activities, except insurance and pension funding
237 jobs
Number of planned job losses
Job loss
Announcement Date
2 March 2013
Employment effect (start)
30 April 2013
Foreseen end date

Description

Barclays bank is to cut 237 jobs in Italy (out of 1,350). The job-cuts will affect the retail business banking and the corporate banking areas, with the closure of 70 branches. According to the company, the job-cuts are due to the recent negative results of the Italian branch.

The trade unions have criticized the company’s decision, requiring more details on the new business plan.

This plan is implemented in the context of a worldwide restructuring affecting 3,700 jobs in France, Spain, Italy and Portugal (see here).

For previous restructuring events regarding Barclays bank in Italy please see here.

Sources

  • 2 March 2013: Il Sole 24 Ore

Citation

Eurofound (2013), Barclays, Internal restructuring in Italy, factsheet number 75073, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/75073.