Banco Santander has proposed this Friday to the union representation the departure of the entity of 4,000 employees in Spain, about 13% of the workforce,and the intention to relocate 1,090 more workers to other companies in the banking group. In total, the amortization needs are 5,040 jobs.
The idea is that the outputs of the workers se produced mainly through early retirement, since the bank has about 4,000 employees with more than 55 years, and incentivized leave; Santander Personal, the division of the entity that serves customers remotely through personal managers, will play a key role for relocations.
In addition, the bank has justified that this new adjustment plan which will also entail the closure of between 900 and 1,000 branches in Spain, out of a total of some 3,100 offices, for economic and organizational reasons, after verifying that the pandemic has accelerated the relationship with customers through digital means.
The bank justifies this new adjustment plan, which will entail the closure of between 900 and 1,000 branches in Spain, out of a total of some 3,100 offices, for economic and organizational reasons, after verifying that the pandemic has accelerated the relationship with customers through digital means.
The entity’s forecast is that the use of these channels will multiply both in transactionality and sales in the next two or three years, according to information shared in previous meetings with unions.
Not surprisingly, today almost half of sales are made through internet channels, a trend that the coronavirus crisis is accelerating: the number of people visiting offices has been reduced “drastically” and office operations fall at annual rates of between 7 and 8%.
In addition to internal flexibility measures, Santander has already offered unions an external outplacement plan commissioned the consultant Lee Hecht Harrison to find a new job outside the group for anyone who joins the ERE and wants to continue working. At the meeting held last Wednesday, the bank presented to the unions the results of the relocation plans carried out through this same company in previous processes.
As an example, in the ERE of 2016, which affected the corporate center, an exit was found for 100% of workers and in the 2018 job cut, which was applied in central services, for 98% of employees. And in the staff adjustment agreed in 2019 to reduce duplications after the purchase of Banco Popular, a measure that also affected the network, the relocation percentage was 73%.