Mutuabank

Type
Internal restructuring
Country
Spain
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
139 jobs
Number of planned job losses
Job loss
Announcement Date
19 February 2004
Employment effect (start)
1 February 2004
Foreseen end date
1 February 2004

Description

Agrupació Mútua is the result of a merger between Mutua and Bankpime. From the 139 dismissed workers, 54 belong to Mutua, 53 to Bankpime and 32 are shared personnel. These cuts are part of a reduction cost plan aiming at reducing expenses by 10 million euros.

Sources

  • 19 February 2004: Expansión

Citation

Eurofound (2004), Mutuabank, Internal restructuring in Spain, factsheet number 59772, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/59772.