CaixaBank proposes an ERE that will affect 8,291 workers and will close 1,534 branches

The entity celebrates this Tuesday the first meeting with the unions to execute a collective dismissal after the merger with Bankia.

José Ignacio Goirigolzarri, Chairman of CaixaBank, together with Gonzalo Gortázar, CEO of the entity.

CaixaBank has already put figures on the collective dismissal that it plans to execute after the integration of Bankia. The entity has presented to the unions a restructuring plan that would affect in principle some 8.291 workers, 18% of the joint workforce, and would involve the closure of 1,534 offices, which translates into a 27% reduction in the network of both banks.

Of the total number of employees affected, some 1,861 correspond to central services and territorial directorates, while The greatest impact will be for workers in the office network, where some 5,742 jobs would be cut. The remaining 688 will correspond to other segments. Both entities add a combined workforce of about 44,000 employees.

By provinces, the largest number of departures will take place in Madrid (1,511 casualties), Barcelona (595), Valencia (528), Murcia (410), Balearic Islands (358), Las Palmas (293), Granada (279), Alicante (253) and Seville (237), if the adjustment will be distributed in 52 provinces.

Economic conditions

The entity has already raised with the unions the economic conditions of the early retirement within the framework of the restructuring, for which it establishes four groups.

The first, the oldest, those over 63 years old, they would receive a compensation of 20 days per year worked with a ceiling of twelve monthly payments. Those with between 58 and 63 years Those who have been in the bank for more than fifteen would receive 50% of the pensionable salary with a discount for unemployment and payment of the Social Security agreement.

The immediately lower age range, 55 to 58 years with fifteen years of seniority they would receive 50% of the regulatory salary with a maximum of two annuities. Regarding the rest of the staff That adheres to the ERE, CaixaBank proposes a compensation of 25 days per year worked with a ceiling of 18 monthly payments.

The bank has told the unions that voluntariness will prevail in joining the ERE, although the possibility of rejecting applications is kept when the surplus limit is exceeded in each area, department or province.

Forced dismissals

And, on the contrary, if the necessary losses are not reached, those affected will be selected by the criterion of merit, assessing the professional performance of recent years. In this sense, from CCOO they criticize that the compensation for voluntary departures is “lower” than that of the ERE launched in 2019, “with the threat of meritocracy if the quota is not reached ”.

Also, the bank wants avoid a generational imbalance, so that it will not accept that more than 50% of the departures correspond to people over 50 years of age.

According to union sources, CaixaBank justifies carrying out this strong adjustment in offices and staff in the need of improve your efficiency after the merger with Bankia, which generates numerous duplications in offices and functions.

Efficiency ratios keep investors away and all in a context, as reported the bank’s management to the workers’ representatives, in which the sector is immersed in a process of digitization which is completely transforming it.

This is how the new CaixaBank looks at the old Bankia headquarters in Madrid and Valencia

This is how the new CaixaBank looks at the old Bankia headquarters in Madrid and Valencia
Ruben Escudero

Furthermore, according to the same sources, CaixaBank attributes the need to make the adjustment to a drop in income, net interest income and gross margin, as well as the slow recovery of credit and the low interest rate situation prevailing in the euro zone.

These circumstances lead to the entity’s decision to cut its branch network by 27%, something it will do taking into account the size of the municipality in which it is located and the banking competition in the place, the distance between CaixaBank and Bankia branches. and duplicities.

The bank, as it has told the unions, wants promote the largest and most specialized offices, although you also want to avoid financial exclusion.

The entity’s management holds the first meeting on Tuesday for the negotiation of this Record of employment regulation (ERE) with the workers’ representatives after having set up the table with the unions last week.

The Government: without the merger there would be more layoffs

Maria Jesus Montero, Minister spokesman for the Government, has spoken about this ERE throughout the press conference after the Council of Ministers and has pointed out that “if [CaixaBank y Bankia] they would have made the ERE each one separately, if that merger had not taken place, surely there would be an even greater ERE ”.

“To the extent that we can influence, the Government will try to minimize any job losses. We will try to influence that companies are not motivated to destroy employment, “said the Minister of Finance.

However, he has recognized that “in bank restructuring many of the operations have nothing to do with the pandemic, but are prior needs. We need strong Spanish banks that play a key role in the productive fabric“, it is finished.