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
500 jobs Number of planned job losses
Announcement Date
28 July 2014
Employment effect (start)
1 September 2014
Foreseen end date
30 October 2014
Description
Portuguese private bank Banco Comercial Português (BCP) will dismiss at least 500 employees by September 2014, besides the 393 workers who left the organisation between July 2013 and June 2014. During the same period the bank closed 57 branches, running now 740 branches and business centres.
The staff reduction plan will be implemented by means of early retirement and mutually agreed terminations.
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.
