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
1,090 jobs Number of planned job losses
Announcement Date
1 June 2016
Employment effect (start)
Foreseen end date
Description
Liberbank and the working committee are close to signing an agreement on a new employment adjustment plan that will affect 1,090 workers in Spain. The agreement, which is currently being negotiated, implies that the measure will be implemented by means of early retirement schemes and voluntary leave. Workers that were born before 1964 will be eligible to take part in the plan. Early retirement schemes will include a severance payment equal to 30 days per year worked up to a maximum of 20 months. The company explains that the measure is needed to advance towards a more commercial model, where the offices will have less importance. The trade union CSIF has positively assessed the pre-agreement as it emphasises voluntary redundancies and will be beneficial for both parties. In 2015, Liberbank announced an employment adjustment of 612 workers, which was to be implemented by June 2017.
Sources
1 June 2016: ok Diario
Citation
Eurofound (2016), Liberbank, Internal restructuring in Spain, factsheet number 87651, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/87651.
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