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
975 jobs Number of planned job losses
Announcement Date
15 January 2015
Employment effect (start)
Foreseen end date
Description
Barclays Bank has proposed its employees’ representatives an employment adjustment plan affecting 1,120 employees (around 50% of its entire workforce). The dismissals are attributed to economic, organisation and production reasons. According to the company, the measure is intended to guarantee the economic viability of the bank. Most of planned dismissals will occur in Madrid, with 641 job losses in central services and 130 in the brand network. However, offices located in other Spanish cities such as Barcelona will also be affected. The trade unions see the number of dismissals as “excessive” and will propose alternative measures.
Barclays Bank was merged into CaixaBank in 2014.
Update 12-02-2015
Spanish bank, CaixaBank has offered to relocate 200 staff from Barclays to offices in Catalonia, Madrid and other companies within the CaixaBank group. Workers relocated in other companies within the CaixaBank group would receive a severance pay equal to 20 days per year worked up to a maximum of 12 months. In addition, the company has offered early retirement measures for workers older than 53. For the rest of the workers, the company is offering a severance pay equal to 30 days per year worked up to a maximum of 22 months. The trade unions CCOO and UGT are asking for a reduction of the workers affected. They also propose to implement all the dismissals on a voluntary basis.
Update 26-02-2015
Caixa Bank, the new owner of Barclays, has agreed with the trade unions to reduce the number of dismissals from 1,120 to 975. Moreover, the firm has accepted to relocate 727 employees. The company has committed itself to relocate internally between 250 to 300 employees. The remaining employees will be relocated externally by means of an outsourcing company. Employees who decided they do not want to be relocated, will have until the end of 2015 to join a voluntary redundancy scheme.
Sources
15 January 2015: El País
12 February 2015: La Vanguarda
26 February 2015: Cinco Días
Citation
Eurofound (2015), Barclays Bank, Merger/Acquisition in Spain, factsheet number 78094, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/78094.
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