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
226 jobs Number of planned job losses
Announcement Date
29 November 2013
Employment effect (start)
Foreseen end date
Description
The bank Banco Caixa Geral (BCG) will dismiss 226 employees in Spain. This follows an agreement with worker representatives that aims at 48 less dismissals than initially planned by the bank.
In total, the bank will close 48 branches in Spain. Further 15 branches will be taken over by savings bank Caixa Rural de Almendralejo, including a transfer of 28 staff.
Dismissed workers will receive compensation equal to 30 days per year worked up to a maximum of 30 months. Dismissed workers older than 57 years old will receive compensation equal to 70% of their gross salary.
BCG is a subsidiary of Portuguese state-owned bank Caixa Geral de Depositos (CGD).
Sources
29 November 2013: Europapress
29 November 2013: sapo.pt
Citation
Eurofound (2013), Banco Caixa Geral, Internal restructuring in Spain, factsheet number 76307, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/76307.
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