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
340 jobs Number of planned job losses
Announcement Date
4 December 2018
Employment effect (start)
4 December 2018
Foreseen end date
31 March 2018
Description
Barclays Group Operations Centre Lithuania, the British bank's strategic centre for technologies and services, is to dismiss around 340 employees in Vilnius at the beginning of 2019. The company has announced that it is leaving Lithuania and transferring its activities to the Indian leading technology company HCL Technologies. Barclays will close its Operations Centre in Lithuania, transferring 460 staff to HCL Technologies and offering redundancy packages to the remaining employees. Currently the Operations Centre in Lithuania employs 800 employees. The contract between Barclays Group Operations Centre and HCL Technologies is expected to be finalised during the first quarter of 2019.
Barclays Group Operations Center Lithuania, established in 2009, is part of the international Barclays financial services group, which provides personal, business and investment banking and asset and investment management services in over 40 countries.
HCL Technologies is an Indian multinational technology company offering integrated portfolio of technological products, solutions, services for their clients. The company operates in 43 countries and their consolidated revenues have constituted around US$ 8.2 billion in 2018.
Sources
Citation
Eurofound (2018), Barclays Group Operations Centre Lithuania, Closure in Lithuania, factsheet number 95998, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/95998.
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