Caixabank proposes an ERE for 8,300 employees, the largest in the history of banking




Caixabank has already put the figures of its Employment Regulation File (ERE) on the table, after completing the legal integration with Bankia. The entity has transmitted this morning to the unions its intention to affect 8,291 workers, which would be equivalent to 18% of its workforce, according to union sources. Regarding the closure of offices, the proposal amounts to 1,534 branches, 27% of the current network.

This would be the
greatest job adjustment in history
of the financial sector in Spain. A process that has just started and for which CaixabankAccording to financial sources, it would have a minimum of 7,000 workers. The current proposal is that 1,861 employees leave the central services and territorial directorates; another 5,742 from the commercial network; and 688 from other branches (mainly subsidiaries). With this, the workforce would go from the current 44,400 employees to 36,109, according to UGT calculations.

The main criterion for exits will be voluntary affiliation, as the bank has repeatedly indicated and as has been customary in all processes in the sector. However, we must think further, taking into account the bulky figures and the possibility that all casualties are not sustained voluntarily: "If the surplus is not reached with the voluntary assignment, the assignment will be carried out. by criterion of merit, through the assessment of professional performance in recent years, "explained UGT. It should be remembered that the president of the bank,
Jose Ignacio Goirigolzarri
He stressed in an interview with ABC that they did not rule out forced dismissals and that everything would depend on the negotiations. Early retirements and voluntary departures are their priority, as are those of the unions, although the bargaining party has just begun

Settle down four groups for the ERE, with different departure conditions depending on age. One over 63 years of age, with 20 days per year worked and a maximum of 12 monthly payments; another from 58 to 63 years, with more than 15 years of seniority, with 50% of the pensionable salary with discount of unemployment and payment of the Social Security agreement; another 55 to 58 years old, with 15 years of seniority, who would receive 50% of the regulatory salary with a maximum of two annuities; and the rest of the workforce, with 25 days per year worked with a ceiling of 18 monthly payments.

Workers' Commissions denounce that the exit proposal supposes a lower compensation than the ERE of 2019, and that it also incorporates the criterion, in quotation marks, of meritocracy in case the quota of volunteers to leave the bank of Catalan origin is not reached.

Offices and financial exclusion

Regarding the closure of the branches, the criteria to be followed by Caixabank are: size of the municipality and banking competition; distance between offices of Caixabank and Bankia; and presence quota and overlaps. Likewise, it would seek to avoid financial exclusion - something imposed in certain territories by the CNMC - and the objective would be to promote larger and more specialized offices.

In this sense, the bank will be limited by
Competition requirements from when the merger was approved
. "The analysis carried out concludes that the operation poses a threat to effective competition in certain areas of the retail banking market," the CNMC said in a press release, while adding: "It has been concluded that no or reduced competitive pressure in these areas it will give the resulting entity a high market power that could influence its behavior, with possible adverse effects for consumers located in those zip codes.

To prevent the risks of financial exclusion or worsening of conditions for certain clients from materializing, the CNMC imposed a series of conditions on the new Caixabank. These include not abandoning, except in exceptional cases subject to prior authorization from the CNMC, any municipality in which one of the two entities (or both) is presently present and there is no competing office; in 21 zip codes where there would be a monopoly, it is required to Caixabank to keep Bankia customers the same conditions and terms that they currently have in their products, for a period of 3 years.

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