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
525 jobs Number of planned job losses
Announcement Date
21 June 2017
Employment effect (start)
Foreseen end date
Description
Liberbank is going to implement a new employment adjustment. A pre-agreement on the measure has been achieved with the trade unions CC OO, UGT, CSIF and STC. The measure will affect 525 workers and will be executed through voluntary departures and early retirement measures. Workers opting for early retirement will receive, as compensation, a payment equal to the 60% of the gross salary with a limit between 75% and 80% of the net salary and with a maximum of €50,000 on a yearly basis until they reach 63 years. The agreement also includes that 153 workers to be dismissed by the 30th of June, in accordance with the previous employment adjustment reported in the ERM, are covered by the new conditions. Moreover, the restructuring plan of the bank includes a working time reduction scheme that will be applied to all the staff.
Sources
21 June 2017: El Comercio
Citation
Eurofound (2017), Liberbank, Internal restructuring in Spain, factsheet number 91317, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/91317.
Digitisation and automation technologies, including artificial intelligence (AI), can affect working conditions in a variety of ways and their use in the workplace raises a host of new ethical concerns.
The retail banking sector is fertile ground for studying the impacts of digitalisation on work and employment. Financial services are increasingly provided online, without the intermediary of customer-facing institutions.
European labour markets have recovered strongly from COVID-19. By the end of 2021, little more than 18 months after the start of the pandemic, employment rates in the EU were almost at pre-crisis levels.
