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

2,510 - 2,710 jobs
Number of planned job losses
Job loss
Announcement Date
18 December 2016
Employment effect (start)
Foreseen end date


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. 


  • 18 December 2017: ABC
  • 11 January 2018: El Confidencial


Eurofound (2016), Bankia, Merger/Acquisition in Spain, factsheet number 93005, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/93005.