Internal restructuring
Location of affected unit(s)
Financial Services
Financial And Insurance Activities
Financial Service Activities, Except Insurance And Pension Funding
64 - Financial service activities, except insurance and pension funding

590 jobs
Number of planned job losses
Job loss
Announcement Date
22 March 2017
Employment effect (start)
Foreseen end date
1 June 2018


The bank Ibercaja has announced to the trade unions that it aims to apply an employment adjustment affecting 684 workers, from which 532 will be from the network of offices and 154 from the central services. The measure will also imply the closure of 160 offices.

The trade unions have already had the first meeting with the company managers. According to the source, they have received the top reasons which in the view of the company will justify the dismissals, based on economic and productive considerations. However, the trade union CCOO has assessed the information provided as insufficient. They also consider that it has been made public with the only purpose of scaring the workers: they reject the dismissals. The trade union APEC considers the number or workers dismissed excessive and will ask for more information.

Update 26-04-2017:

Ibercaja is still negotiating the employment adjustment with the trade unions. Currently, the company has proposed to reduce the number of workers dismissed by 20%. Moreover, it suggests that this number could be covered by means of voluntary departures. In this case, the employment adjustment would affect 526 workers. However, trade unions are still demanding the company to withdraw the dismissals. They argue that the measure cannot be justified based on the reasons provided by Ibercaja: they maintain that information included in the documents provided is biased.

Update 10-05-2017:

Ibercaja and the majority of employees’ representatives (trade unions CCOO, APECA-FINE and ACI) have achieved an agreement on the employment adjustment. The agreement includes the closure of 140 offices and up to 590 dismissals that will be implemented by means of voluntary departures. Workers will be able to apply for voluntary departures until June 23. The bank provides economic incentives for those workers aged 57, 58 and 59 years old. The agreement also includes compensatory measures for those workers who, as a result of the restructuring process, have to move to another region.


  • 22 March 2017: El País
  • 22 March 2017: El Mundo
  • 26 April 2017: El Periódico Extremadrua
  • 10 May 2017: Expansión


Eurofound (2017), Ibercaja, Internal restructuring in Spain, factsheet number 90620, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/90620.