Brexit: the Digby Jones Jobs Lost Index is launched

Lord Digby Jones
Pic by Chris McAndrew / CC BY (https://creativecommons.org/licenses/by/3.0)

Note: This article has proved so popular that Yorkshire Bylines has now added it as a permanent feature and we will continue to update the index as the impact of Brexit begins to make itself felt across the country. See it HERE. As before if you know or hear of jobs being lost and attributed publicly to Brexit – email editor@yorkshirebylines.co.uk

Lord Digby Jones, a leading proponent of leaving the EU, said in July 2016, “There’s not going to be any economic pain. If there are job losses, they will be very few”. Of course, he wasn’t alone. Britain would stroll into the sunlit uplands holding all the cards … but as we approach the final break with our EU partners, we can already see how worthless those assurances were.

As late as January 2019 he was still maintaining “not a single job” would be lost because of Brexit.

There appears to be no definitive list of companies and organisations known to be relocating, moving operations or headquarters, closing factories in Britain and/or opening new ones in Europe – with Brexit cited as one of the reasons, if not the main driver, for these changes. Yorkshire Bylines has therefore compiled its own list (below).

Jones describes himself as an international businessman and in 2017 he published a book entitled Fixing Business – Making Profitable Business Work for the Good of All. The former director-general of the Confederation of British Industry (2000–2006) has shown himself to be completely ignorant of how British industry actually works. As a tribute to his ignorance, we have called the list the Digby Jones Jobs Lost Index.

In every case, the result will be fewer jobs in Britain. The list is certainly not exhaustive and contains only those we have noted in the press since 2016. No doubt many others can and will be added as Brexit begins to bite.

As we reach the end of the transition period, and still with huge uncertainty about the vital future trading relationship with our biggest customer and biggest supplier, more and more companies will make the decisions which will impact the lives and livelihoods of thousands of people, many of whom did not vote for Brexit.

If you know of companies in Yorkshire or elsewhere, where jobs are being lost due to Brexit either directly or indirectly, please email editor@yorkshirebylines.co.uk preferably with a link to the announcement and we will update the list.

The Digby Jones Jobs Lost Index

CompanyDate
Brexit: British company Smiffys moves HQ to EuropeOct-16
Almac admits new operation in Dundalk is because of BrexitFeb-17
Lush Cosmetics to move operations to GermanyMar-17
AIG to set up new base in Luxembourg to service EU businessMar-17
Lloyd’s of London will move jobs to new Brussels officeMar-17
Liberty Speciality Markest sets up EU headquarters in Luxembourg Jul-17
The insurance company Hiscox has set up a new base in Luxembourg Sep-17
EU youth orchestra to quit UK for Italy over BrexitOct-17
HSBC to move up to 1000 jobs to ParisOct-17
The European Medicines Agency announces Amsterdam as location of new HQ.Nov-17
European Banking Authority moves to ParisNov-17
Moneygram to move to BrusselsJan-18
Deutsche Bank to move hundreds of jobs to FrankfurtJan-18
CitiGroup to make Frankfurt its post Brexit EU HubFeb-18
Societe Generale to move 300 staff to ParisFeb-18
Standard Life Aberdeen to set up EU business hub in DublinFeb-18
Admiral establishes in Spain  the base of operations of its new European centreMar-18
Goldman Sachs start moving staff to FrankfurtMar-18
Morgan Stanley to move 80 jobs to ParisMar-18
UBS to move some staff to FrankfurtMar-18
Barclays to make Dublin its main EU HubApr-18
Bank of America to move hub to DublinMay-18
Heathrow owner Ferrovial to move HQ to AmsterdamJun-18
Jaguar Land Rover to move Discover production to SlovakiaJun-18
Sanofi Pharma move QP and QC jobs to EU member stateJun-18
Nomura confirms banking license granted in FrankfurtJun-18
Barclays to move 50 jobs to FrankfurtJul-18
LSE and CBOE open trading venue in AmsterdamJul-18
Luxembourg looks for more office space for Brexit firmsJul-18
J P Morgan asks several dozen to relocateJul-18
DTCC move to IrelandJul-18
Lloyds Banks to create three hubs in the EUJul-18
Chubb European Group and Ace European Life move to FranceJul-18
Deutsche Bank move some jobs to FrankfurtJul-18
Trading company Jane Street moves to AmsterdamJul-18
Credit Suisse moves 50 jobs to MadridJul-18
Forex Trader NEX moves to AmsterdamJul-18
Credit Suisse picks Luxembourg, Madrid & FrankfurtAug-18
Bank of America to move 200 jobs to ParisAug-18
Clarks to open 10,000 sq m European distribution centreAug-18
Baillie Gifford to move operations to DublinAug-18
Ship Insurer UK P&I Club makes hub in RotterdamAug-18
Nomura contacts clients about migrating to FrankfurtAug-18
EU Naval Force HQ to move out of LondonAug-18
Panasonic to move HQ to AmsterdamAug-18
Ashmore sets up Irish base in DublinSep-18
Dechra Pharmaceuticals to open testing centre in EU Sep-18
RSA Group opens base in LuxembourgSep-18
Acquis Exchange opens office in ParisSep-18
First State Asset Managers to move funds to IrelandSep-18
Next sets up new Irish company to avoid customs post BrexitSep-18
Elcome open office in AlicanteOct-18
Wells Fargo shift EU hub to ParisOct-18
Coinbase opens Dublin officeOct-18
Aviva move UK policy administration to IrelandOct-18
Axa XL moves European Operations to IrelandOct-18
SciSys moves to Dublin to keep space workOct-18
BUPA plan European hub move to DublinOct-18
HarbourVest to open in Dublin to lessen Brexit impactOct-18
CME Group move $240 billion/day market to AmsterdamNov-18
Brexit to Shift Swissquote Business From London, CEO SaysNov-18
Steris – multi billion dollar US Healthcare firm – moves HQ to IrelandNov-18
Tokio Marine Group receives court approval for Luxembourg move Nov-18
Schaeffler to close two UK plantsNov-18
Bank of America complete move to Dublin 100 staff Nov-18
RBS applies for German Banking licence Dec-18
Societe General opens clearing capability in Paris Dec-18
Vanguard, Merian Global open offices in DublinDec-18
Wells Fargo to open offices in Frankfurt and Paris Jan-19
Philips to close Suffolk factoryJan-19
Discovery moves European HQ to AmsterdamJan-19
Axa to move staff to DublinJan-19
Dyson to move HQ to SingaporeJan-19
Pantheon open Dublin office as part of Brexit planningJan-19
Barclays moves $217 billion to DublinJan-19
Brexit: US insurer Travelers gets licence to set up in DublinJan-19
Brexit drives TransferWise to open Belgian officeJan-19
Deutsche Bank repatriates 400 billion euro to FrankfurtJan-19
Sony to move HQ to AmsterdamJan-19
Trading platform Acquis sets up hub in ParisJan-19
Merril Lynch to move 100s of jobs to ParisJan-19
Shwarz Gerhard move staff to AustriaFeb-19
Aviva, Natwest move funds to Ireland, HollandFeb-19
Discovery Channel gets German licenseFeb-19
RBS prepares to move 100 staff from UK to Holland in readiness for BrexitFeb-19
Honda to close Swindon plantFeb-19
Raspberry Pi looking to move manufacturing to Ireland or HollandFeb-19
Japanese drugmaker Shionogi moves European HQ from London over BrexitMar-19
Scottish Widows Transfers operations to Luxembourg after Brexit DevelopmentsMar-19
BBC moves commercial operation to The NetherlandsApr-19
Ford to close Bridgend plantJun-19
Aztec Oils opens operation in LithuaniaSep-19
Scottish island chocolate maker blames Brexit for collapse of businessSep-19
Axminster Carpets which supplies Wetherspoons blames job cuts on Brexit Sep-19
Senju Metal Industries close High Wycombe factorySep-19
Japanese Manufacturer Senju Closes U.K. Factory, Citing Brexit ImpactSep-19
Historic Plymouth company on brink of closure ‘due to Brexit’Oct-19
Total move cash management to ParisJan-20
API Foils, Livingston closes on Brexit Day – blaming BrexitJan-20
Revolut move payment operations to IrelandFeb-20
Kids fashion company Frugi opens Dutch baseFeb-20
German Digital bank N26 quits UK due to BrexitFeb-20
Kasai in Mertyr Tydfil close with the loss of 180 jobsFeb-20
McBrides in Barrow to move production to France and LuxembourgFeb-20
Ineos to build new 4×4 in FranceAug-20
J P Morgan move 200 more staff to FrankfurtSep-20
7500 finance jobs and $1.6 Trillion to leave UKOct-20
EU Medium Range Weather centre to leave UK with loss of 250 jobsOct-20

This list was last updated on 5 October 2020 at 18:14

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