BBVA

Type
Internal restructuring
Country
Spain
Region
Location of affected unit(s)
Sector
Financial / Insurance/ Estate
64 - Financial service activities, except insurance and pension funding
64 - Financial service activities, except insurance and pension funding
64 - Financial service activities, except insurance and pension funding
1,500 jobs
Number of planned job losses
Job loss
Announcement Date
28 November 2014
Employment effect (start)
28 November 2014
Foreseen end date

Description

Multinational Spanish banking group BBVA has announced that its early retirement scheme for 2014 will affect more than 1,500 jobs. As reported, the bank has decided to expand and accelerate its initial plan for 2014 that was envisaging early retirement for 1,100 employees who are 54 years old or older, due to the need for cost saving measures.  

Sources

  • 28 November 2014: Cinco Días

Citation

Eurofound (2014), BBVA, Internal restructuring in Spain, factsheet number 77932, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/77932.