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
187 jobs Number of planned job losses
Announcement Date
24 November 2014
Employment effect (start)
24 November 2014
Foreseen end date
31 March 2015
Description
Portuguese private bank Banco Comercial Português (BCP) is to cut additional 187 jobs by March 2015. BCP has recently announced job reduction measures envisaging at least 500 job cuts by September 2014. The reduction of its workforce is part of a restructuring plan agreed upon between the Portuguese authorities and the Directorate General for Competition of the European Commission. As reported, the plan envisages a target set to reach a staff of 7,500 employees by 2017.
Sources
24 November 2014: Económico
Citation
Eurofound (2014), Banco Comercial Português (BCP), Internal restructuring in Portugal, factsheet number 77944, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/77944.
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