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
New offshoring locations
285 jobs Number of planned job losses
Announcement Date
16 May 2018
Employment effect (start)
1 June 2018
Foreseen end date
31 December 2018
Description
Barclays Group Operations Centre Lithuania, the British bank's strategic centre for technologies and services, is to dismiss 285 employees in Vilnius by the end of 2018. The main cause of dismissals is the intention of the company to optimise the operations of the Lithuanian subsidiary. According to the management, 244 out of 285 jobs will be relocated to other countries, including the UK, the US and India; 41 positions will be closed completely. The company promised to ensure all legal and financial obligations to the dismissed employees. Currently Barclays Group Operations Centre in Lithuania employs 1,134 employees.
Sources
16 May 2018: Verslo zinios
16 May 2018: 15min.lt
16 May 2018: Delfi Verslas
Citation
Eurofound (2018), Barclays Group Operations Centre Lithuania, Offshoring/Delocalisation in Lithuania, factsheet number 94016, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/94016.
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