The CaixaBank management has proposed to the unions this Tuesday an adjustment of 18% of the workforce, that is, 8,291 people. After this adjustment, the new bank merged with Bankia would go from the current 44,400 workers to 36,109 in total. The adjustments affect CaixaBank España, not the group’s subsidiaries. It is the largest ERE in the history of Spanish banking.
The bank argues the same reasons that BBVA has presented for its ERE: productive issues and organizations -that is, that with the merger there are duplications and it is necessary to make synergies-, the existence of negative rates until 2025 and the digitization of customers . They have not argued economic reasons for losses of the entity.
Regarding the branches, it is intended to close 1,534, 27% of the 5,639 that the bank chaired by José Ignacio Goirigolzarri has. The criteria for closing offices are due to the size of the municipality and banking competence in the square, the distance between Caixa and Bankia branches, the presence quota and overlaps of both entities, always seeking to avoid financial exclusion, according to the bank, as well. how to promote larger and specialized offices.
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