The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Financial Services Financial And Insurance Activities Financial Service Activities, Except Insurance And Pension Funding 64 - Financial service activities, except insurance and pension funding
193 jobs Number of planned job losses
Announcement Date
7 November 2013
Employment effect (start)
Foreseen end date
31 December 2013
Description
Savings bank Caja Badajos is to close 37 branches with the loss of 193 workplaces. The job cuts will be implemented until the end of 2013.
The restructuring is due to the bank’s merger with Ibercaja. According to the management, the jobs will be cut by means of a voluntary departure plan.
Earlier this year, Caja3, bank of which Caja Badajos held partly ownership, closed down its operations resulting in 477 job losses.
Sources
7 November 2013: Expansión
Citation
Eurofound (2013), Caja Badajoz, Merger/Acquisition in Spain, factsheet number 76166, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/76166.
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