Internal restructuring
Location of affected unit(s)
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
Job loss
200 jobs
Number of planned job creations
Job creation
Announcement Date
13 July 2007
Employment effect (start)
Foreseen end date
31 December 2007


BBVA, a large financial services firm, is to create 200 jobs in Andalusia but simultaneously cut 300 jobs across Spain. The background of the case lies in the decision of BBVA to develop an operative centre in Andalusia to support the firm's operations across Spain. The new centre will manage many of the back-office functions of the whole firm, including the daily administrative functions of other branches. This restructuring will create 200 new jobs in Andalusia and will, according to the firm, allow staff in other branches to become more productive. As part of this plan, 300 job losses across BBVA's sites in Spain are to be implemented. According to several sources, those workers affected by the job losses will either be offered the option of relocation or early retirement.


  • 13 July 2007: Cinco Días


Eurofound (2007), BBVA, Internal restructuring in Spain, factsheet number 65728, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/65728.