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 64.19 - Other monetary intermediation
200 jobs Number of planned job creations
Announcement Date
25 January 2022
Employment effect (start)
Foreseen end date
Description
BBVA, one of Spain's leading banks, has announced the creation of two new innovation centres in Bilbao (Basque Country). They will create 200 new jobs requiring a high technological profile: mainly computer, telecommunications, systems and industrial engineers, and mathematicians. The recruitment processes have already started and will length over the next two years. These new centres will play a critical role in BBVA's operations and strategy, aiming to compete with the big tech companies operating in the financial sector. The first centre will be part of BBVA Next Technologies, focused on software engineering. It has 900 experts who provide strategy and development services for cloud, data and security solutions. The second new centre will be part of BBVA IT, which provides digital support to various business areas, central services and the data area. It employs 750 people, mostly software developers and big data experts. This announcement comes after the adjustment plan that affected 2,935 employees in 2021.
Sources
Citation
Eurofound (2022), BBVA, Business expansion in Spain, factsheet number 106293, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/106293.
Digitisation and automation technologies, including artificial intelligence (AI), can affect working conditions in a variety of ways and their use in the workplace raises a host of new ethical concerns.
The retail banking sector is fertile ground for studying the impacts of digitalisation on work and employment. Financial services are increasingly provided online, without the intermediary of customer-facing institutions.
European labour markets have recovered strongly from COVID-19. By the end of 2021, little more than 18 months after the start of the pandemic, employment rates in the EU were almost at pre-crisis levels.
