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 64.1 - Monetary intermediation
267 jobs Number of planned job losses
Announcement Date
26 July 2016
Employment effect (start)
1 August 2016
Foreseen end date
31 December 2016
Description
Fernando Ulrich, BPI’s President, announced that BPI [Banco Português de Investimento] will cut 267 jobs by the end of the year, mostly through early retirements. BPI bank will close the year with 321 less workers. BPI Bank recorded a net profit of EUR 105.9 million between January and June, an annual increase of 39.1% compared to the profit recorded in the same period last year, the institution unveiled on 26 July. Domestic activity has made a contribution of EUR 24.5 million and the international activity EUR 81.4 million, of which EUR 79.1 million from the Banco de Fomento
Since 2012 BPI has dismissed 370 workers (see BPI-2012 and BPI-2014).
Sources
26 July 2016: sic noticias
Citation
Eurofound (2016), BPI, Internal restructuring in Portugal, factsheet number 88376, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/88376.
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