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
530 jobs Number of planned job losses
Announcement Date
8 April 2010
Employment effect (start)
1 July 2010
Foreseen end date
31 July 2012
Description
Unnim, the new entity resulting from the merger of three saving banks - Caixa Sabadell, Terrassa and Manlleu - will be established in Barcelona with operating sub-sites in Sabadell, Terrassa and Manlleu. Within two years, Unnim will have 2,900 employees after reducing staff by 530, most taking early retirement.
After closing 150 of the 760 branches in January 2009 (20% of the total) it will be left with 610. Unnim will start to be operational between late June and early July. The new savings bank will hold assets of 30,000 million euro, leaving it eleventh among the 45 savings banks currently operating in Spain.
The Sabadell, Terrassa and Manlleu savings banks have announced that they will call together their boards of directors to set a date in May for assemblies with the workers to deal with the merger process.
Sources
8 April 2010: Cinco Días
Citation
Eurofound (2010), Unnim, Merger/Acquisition in Spain, factsheet number 70439, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/70439.
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