BCP

Type
Internal restructuring
Country
Portugal
Region
Continente;
Location of affected unit(s)
Sector
Financial / Insurance/ Estate
64 - Financial service activities, except insurance and pension funding
64 - Financial service activities, except insurance and pension funding
64 - Financial service activities, except insurance and pension funding
600 jobs
Number of planned job losses
Job loss
Announcement Date
5 November 2012
Employment effect (start)
1 January 2013
Foreseen end date
31 December 2013

Description

The Portuguese Bank BCP announced a reduction plan of its workforce by 600 employees, to be completed by the end of 2013.

The staff reduction plan will be carried out throughout 2013 and it will be implemented using early retirement and mutually agreed terminations.

According to reports, at the end of the third quarter of 2012, BCP had 9866 workers, 93 less than at the end of 2011. BCP recorded losses of over €796,3 million between January and September 2012.

Sources

  • 5 November 2012: Correio da Manhã

Citation

Eurofound (2012), BCP, Internal restructuring in Portugal, factsheet number 74532, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/74532.