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 64.1 - Monetary intermediation
250 jobs Number of planned job losses
Announcement Date
24 April 2014
Employment effect (start)
Foreseen end date
31 December 2014
Description
Fernando Ulrich, BPI’s President, announced that BPI [Banco Português de Investimento] will cut 250 jobs this year, mostly through early retirements. The bank wants to complete the restructuring plan agreed with the EU Commission, which became mandatory after receiving public support. For this, the bank has to meet the agreed objectives. One of them is to reduce the number of workers to a maximum of 6,000 in Portugal. At the end of March, BPI had 6,254 workers. BPI will spend between € 18 million to 19 million in this process.
Since 2011 BPI has dismissed 320 workers (see BPI-2011 and BPI-2012).
Sources
24 April 2014: tsf
24 April 2014: Rádio Renascença
24 April 2014: TVI24
Citation
Eurofound (2014), BPI, Internal restructuring in Portugal, factsheet number 77068, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/77068.
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