Blogs and advice from Industry leading Specialists
Valuable Opinions, Comments & Gossip
Financial related News & Articles relating to Spain
Latest News, Stories
& Hot Topics
Various Tools & Widgets to help with your financial needs
Tools & Widgets to
help with finances
Polls, Surveys and Opinions featured throughout Tumbit
Featured Polls, Surveys & Stats
Discussions, Advice & Topical Chat
Discussions, Advice & Topical Chat

CaixaBank prepare to cut 3'000 jobs

Source: Bloomberg - Mon 25th Feb 2013
CaixaBank prepare to cut 3'000 jobs

CaixaBank, Spain's 3rd-largest lender, have said around 3,000 employees would be affected by plans to cut costs after it acquired lenders including Banca Civica .

Jobs need to be cut after the bank absorbed Banca Civica last year and agreed to take over nationalized lender Banco de Valencia, Barcelona-based Caixabank said in a statement today.

Talks with unions may last until the end of April, it said.

"The aim is to analyze all the possible formulas and agree on the best measures to adjust the workforce to the needs of the business," CaixaBank said in the statement. "The application of these restructuring measures will affect some 3,000 staff."

CaixaBank's integration of Banca Civica in 2012 boosted its workforce to 32,625 from 26,993 a year earlier as lenders including Banco Santander shutter branches to weather Spain's economic slump. CaixaBank has 6,342 branches serving 13 million customers, or one branch for every 2,050 clients. That compares with more than 3,000 clients for each of the branches run by Santander, the country's biggest lender.

Despite several rounds of redundancies by most major lenders, it is thought that the number of people employed by the Banking Industry in Spain will still be as many as 220'000 by the end of 2013.

Comment on this Story

Be the first to comment on this Story !!

Related Partners

Recommended Items

Related Articles

Related Blogs