Type
Internal restructuring
Country
Spain
Region
Location of affected unit(s)
Sector
Financial Services
Financial And Insurance Activities
Financial Service Activities, Except Insurance And Pension Funding
64.1 - Monetary intermediation

750 jobs
Number of planned job losses
Job loss
1,000 jobs
Number of planned job creations
Job creation
Announcement Date
21 July 2006
Employment effect (start)
Foreseen end date

Description

BBVA is undertaking an internal restructuring process. The objective of this restructuring is to separate private banking from business banking, thereby reducing the regional branches from eleven to seven. As a consequence of this reduction 750 employees will be put on preretirement.

Meanwhile another 1000 jobs will be created in the sales department.


Sources

  • 21 July 2006: El PaĆ­s

Citation

Eurofound (2006), BBVA, Internal restructuring in Spain, factsheet number 63836, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/63836.