Internal restructuring
Noroeste; Galicia;
Location of affected unit(s)
A Coruna and other locations in Galicia
Financial Services
Financial And Insurance Activities
Financial Service Activities, Except Insurance And Pension Funding
64.1 - Monetary intermediation

130 - 345 jobs
Number of planned job losses
Job loss
Announcement Date
18 January 2012
Employment effect (start)
Foreseen end date


Spanish bank Banco Pastor is to cut some 130 jobs at its central services in A Coruna (100 jobs out of 633) and across its commercial network (25 to 30 jobs). The affected workers aged 57 years working in central services will be offered early retirement while this option will be given only to 60-year old workers working for the commercial network. The CIG and UGT union representatives opposed the management's decision to negotiate the early retirement packages individually rather than collectively.

UPDATE, 06/02/2012 - Banco Pastor intends to offer early retirement packages to another 215 employees in A Coruna and other branches in Galicia. Negotiations with the trade unitons are still ongoing.


  • 6 February 2012: Cronica de Galicia
  • 18 January 2012: Expansión


Eurofound (2012), Banco Pastor, Internal restructuring in Spain, factsheet number 73353, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/73353.