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
170 jobs Number of planned job losses
Announcement Date
5 November 2015
Employment effect (start)
Foreseen end date
Description
The Spanish bank Evo Bank, part of Grupo Apollo, has announced the intention of implementing an employment adjustment plan affecting 170 employees (40% of its entire workforce in Spain). 40 of these dismissals will be applied in Madrid. The measure will entail the closure of 22 branches. In addition, the company aims to modify working conditions related to working time. At this time negotiations with the trade unions are on course. The trade unions intends to minimise the employment impact of the measure proposed by the company.
Sources
5 November 2015: Expansión
Citation
Eurofound (2015), Evo Bank, Internal restructuring in Spain, factsheet number 85407, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/85407.
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