Caja España-Duero

Type
Merger/Acquisition
Country
Spain
Region
Centro (ES); Castilla y León;
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
1,502 jobs
Number of planned job losses
Job loss
Announcement Date
3 January 2013
Employment effect (start)
3 January 2013
Foreseen end date

Description

Caja Duero-España has announced plans to dismiss 1502 employees and close 263 branches. 700 of the job cuts will take place in the region of Castilla y León.

Caja Duero-España is a financial conglomerate formed in March 2012, merging the operations of 3 savings banks: Caja España, Caja Duero and Unicaja. In December 2012 it was taken over by the state-aid banking fund Frob, thus becoming nationalized.

Sources

  • 3 January 2013: El Mundo

Citation

Eurofound (2013), Caja España-Duero, Merger/Acquisition in Spain, factsheet number 74777, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/74777.