Restructuring events
European Restructuring Monitor (ERM)
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.
Bankia has informed the trade unions on its proposal of employment adjustment resulting from the acquisition of bank Banco Marenostrum (BMN). Bankia has proposed to dismiss 2,510 workers from the central services and the commercial network. This figure represents 14% of the entire workforce of both banks. More specifically, the employment adjustment proposed will affect 1,188 employees from the Bankia and BMN branches and 817 from the central services of both banks. Most of the dismissals will affect Madrid, Valencia region and Andalusia. The trade unions, however, have demanded the company direction to reduce the number of dismissals from 2,510 to 1,800. On the top of that, Bankia plans to implement around 200 additional dismissals due to digitalization effects.
Eurofound (2016), Bankia, Merger/Acquisition in Spain, factsheet number 93005, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/93005.