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
300 jobs Number of planned job losses
Announcement Date
1 February 2017
Employment effect (start)
1 April 2017
Foreseen end date
Description
Kutxabank is planning to implement an employment adjustment plan that may affect 600 workers (around 10% of its entire workforce). According to the news published, it is likely that Kutxabank will dismiss 300 workers in April, even it is not official yet. The company and the trade unions have been negotiating in the previous months alternatives to ensure the future of the bank. The bank proposed in November 2016 a plan with voluntary leaves and voluntary working time reduction schemes. However, the agreement was not possible and at the end, the management of the bank has decided to stop the negotiations.
Sources
1 February 2017: ok Diario
Citation
Eurofound (2017), Kutxabank, Internal restructuring in Spain, factsheet number 90146, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/90146.
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