Banca Civica

Type
Internal restructuring
Country
Spain
Region
Location of affected unit(s)
Sector
Financial / Insurance/ Estate
64 - Financial service activities, except insurance and pension funding
64.1 - Monetary intermediation
64.1 - Monetary intermediation
1,480 jobs
Number of planned job losses
Job loss
Announcement Date
10 February 2012
Employment effect (start)
Foreseen end date

Description

Banca Civica plans to close 156 branches with the loss of 1,480 jobs (450 in central services, 970 in offices and 60 from the network support team). The bank intends to negotiate the plan with the trade unions (UGT, CCOO, ELA, LAB and CGT); however they have already stated that they are against the redundancy plan and are not willing to endorse it.

Sources

  • 10 February 2012: El País

Citation

Eurofound (2012), Banca Civica, Internal restructuring in Spain, factsheet number 73336, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/73336.