Banco Comercial Português

Type
Internal restructuring
Country
Portugal
Region
Continente;
Location of affected unit(s)
Sector
Financial Services
Financial And Insurance Activities
Financial Service Activities, Except Insurance And Pension Funding
64.11 - Central banking
300 - 1,700 jobs
Number of planned job losses
Job loss
Announcement Date
9 August 2003
Employment effect (start)
1 January 2003
Foreseen end date
1 December 2004

Description

In the first semester, the BCP fired 400 workers through end of contract and reforms. Until the final of the year, the BCP would fire 300 other workers. The reason is the internal restructuring.

From January of 2004, the Group BCP will fire 1000 workers. It will unify the marks Sottomayor, Atlântico and Nova Rede. With the unification, the Group BCP will reduce the costs in staff.

Sources

  • 9 August 2003: Expresso

Citation

Eurofound (2003), Banco Comercial Português, Internal restructuring in Portugal, factsheet number 60268, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/60268.