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 64.19 - Other monetary intermediation
300 jobs Number of planned job losses
Announcement Date
4 January 2007
Employment effect (start)
Foreseen end date
Description
Two regional Spanish savings banks, El Monte and Caja San Fernando, announced their merger on 4 January 2007. As a result of this operation the new group, Cajasol, will offer pre-retirement to 300 of its current employees. This measure is part of the new company strategy to rationalise its resources. Moreover, the company has developed a programme of sustainable human resources that seeks to create and mantain employment by replacing every worker that adheres to the pre-retirement programme with another one under long term contract.
Sources
5 January 2007: Cinco Días
Citation
Eurofound (2007), Cajasol, Merger/Acquisition in Spain, factsheet number 64752, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/64752.
Digitisation and automation technologies, including artificial intelligence (AI), can affect working conditions in a variety of ways and their use in the workplace raises a host of new ethical concerns.
The retail banking sector is fertile ground for studying the impacts of digitalisation on work and employment. Financial services are increasingly provided online, without the intermediary of customer-facing institutions.
European labour markets have recovered strongly from COVID-19. By the end of 2021, little more than 18 months after the start of the pandemic, employment rates in the EU were almost at pre-crisis levels.
