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

250 - 500 jobs
Number of planned job losses
Job loss
Announcement Date
18 February 2020
Employment effect (start)
Foreseen end date


The bank Abanca will implement an adjustment plan affecting 500 employees, 10% of its current workforce. This adjustment follows the acquisition of Banco Caixa Geral (BCG) last October. However, Abanca stated that the main reason to implement this measure is due to economic and organisational reasons, and to the digitalisation process inherent to the sector. Unions declared to the press that the firm called workers representatives of both companies (Abanca and BCG) to negotiate the terms of the adjustment process. Trade union representatives stated that they hope to achieve a reduction in the number of jobs losses through pre-retirement and voluntary departures measures.



Eurofound (2020), Abanca, Internal restructuring in Spain, factsheet number 99860, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/99860.