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
250 jobs Number of planned job losses
Announcement Date
7 April 2011
Employment effect (start)
Foreseen end date
Description
Nova Caixa Galicia, the saving bank created in 2010 from the merger of Caixa Galicia and Caixanova, plans to cut another 250 jobs after revising upwards the redundancies announced in 2010 (which concerned 1,200 employees).
The redundancy procedure was agreed with the union representatives of both saving banks (CCOO and Csica). The job cuts affecting employees who are older than 55 years old will be implemented through early retirement. The same applies to the additional 250 job cuts which are part of the revised redundancy procedure.
Sources
7 April 2011: La Voz de Galicia
Citation
Eurofound (2011), Nova Caixa Galicia, Merger/Acquisition in Spain, factsheet number 71890, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/71890.
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