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CaixaBank announces a restructuring plan with 3,000 job losses in Spain

The Barcelona-based bank, CaixaBank, which leads the Spanish retail banking market, is planning to lay off 3,000 workers in order “to adapt to the current context” and “improve the efficiency” of its resources. According to the Catalan financial company, the reform is “necessary” after having taken over Banca Cívica’s network and as they absorbing Banc de València’s too. CaixaBank has engaged in formal talks with the unions, which could be on-going until late April. The objective is to negotiate the exact measures to adjust the staff numbers to the business volume.

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25 February 2013 11:06 PM

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ACN

Barcelona (ACN).- On Monday, the Barcelona-based bank, CaixaBank, disclosed their plan  to lay off 3,000 workers in order \u201Cto adapt to the current context\u201D and \u201Cimprove the efficiency\u201D of its resources. According to the Catalan financial entity, which leads the Spanish retail banking market, the reform is \u201Cnecessary\u201D after having taken over Banca Cívica\u2019s network and as they are about to absord Banc de València\u2019s. CaixaBank has engaged in formal talks with the unions, which could be on-going until late April. The objective is to negotiate the exact measures to adjust the staff numbers to the business volume. CaixaBank has emphasised that they have a \u201Cnegotiating disposition\u201D and they are willing to engage in \u201Copen and continuous\u201D talks with the workers\u2019 representatives. The unions think that 3,000 people being made redundant is \u201Cexcessive\u201D, taking into account the Barcelona-based bank\u2019s solvency confirmed through last summer\u2019s stress tests.


On Monday, the first meeting between the unions and CaixaBank took place, to start exploring the possibilities and the requirements for the restructuring process. This first meeting is part of the preliminary talks, before the formal negotiation process kicks off, as established in the collective bargaining agreement before a mass lay-off.

The Workers Commissions union (CCOO) criticised CaixaBank\u2019s restructuring. According to CCOO, the Catalan bank is an entity that has not had any intervention or been nationalised, as it passed all the solvency and stress tests imposed on the Spanish banking sector without any problem. Therefore, the union  thinks that the figure of 3,000 employees to be made redundant is \u201Cexcessive\u201D.

Furthermore, CCOO underlined that CaixaBank is already making an important effort regarding salaries, since the 2011 collective bargaining agreement, which is combined with \u201Csevere tensions over certain working centres and long hours\u201D. CCOO warned that if CaixaBank does not modify its plans, there will be \u201Ca serious conflict\u201D. The union hopes the bank will put non-traumatic measures in place, for example encouraging volunteer retirement.

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  • A CaixaBank branch next to a Banca Cívica branch, which are now the same group (by J. Molina)

  • A CaixaBank branch next to a Banca Cívica branch, which are now the same group (by J. Molina)