-Bankia has revealed its biggest secret, the volume affected by the ERE due to the merger of both entities. After more than seven months of speculation and lack of information in this regard, the entity has detailed the number of layoffs to the unions. The plan, in principle, includes the departure of 8,291 workers, 18% of the group’s workforce in our country, although the final figure could drop depending on the negotiations that began last week. In addition, the management has transferred the intention to close 1,534 branches, that is, 27% of the network.
The intention is that the number of affected does not fall below 7,000 in order to achieve the cost synergies announced in , which reach 750 million in the next three years. The workforce of the national champion will thus go from the current 44,000 to around 36,000-37,000 in Spain.
The dimension of the ERE is located in the estimates that the market had been making from the beginning and that placed the volume of workers who would have to benefit from early retirement or incentivized dismissals at around 8,000. Although the closure of branches is somewhat higher, since .
In recent months, the directors of CaixaBank-Bankia have been insisting that the process will be mostly voluntary and that it is based on meritocracy, not on the age of the employees who will have to leave the financial conglomerate.
CaixaBank’s ERE is the highest in Spanish banking history, but the merger is also one of the most ambitious mergers that have taken place in the sector. The bank’s advisers have explained to the workers that the collective dismissal is forced by the reduction in income and margins, in addition to the situation of , and the digital transformation.
5,742 people from the network
According to the information provided by the unions in almost real time, the entity has stated at the meeting that the cost adjustment process will take into account the average salary of each employee, since there is a difference with respect to the competition. In addition, it has detailed that the departures of personnel will take place especially in the network, where the departure of 5,742 workers is anticipated in advance. The central services and the territorial directorates will assume 1,861 dismissed employees; while other work centers, the rest, 688.
According to the proposal, the entity has established 4 groups to address the exits. For those over 63 years of age, it offers 20 days per year worked, with a maximum of 12 monthly payments. From 58 to 63 years old, with more than 15 years of seniority, 50% of the pensionable salary with unemployment discount and payment of the Social Security agreement. For workers between the ages of 55 and 58 with 15 years of seniority, 50% of the regulatory salary with a maximum of 2 annuities. For the rest of the workforce, 25 days per year worked with a limit of 18 monthly payments.
The bank’s management has indicated that, according to the meritocratic criterion with which it approaches this adjustment process, if the surplus is not reached with the voluntary affiliation, the affiliation will be carried out on the basis of merit, through the assessment of professional performance. of recent years.
But, in the silver conditions, the leadership of the entity may reject accessions if the quotas are covered by center or province or if more than 50% of them are over 50 years of age. CaixaBank, with this latest proposal, tries to prevent the bulk of departures from affecting older employees.
CaixaBank’s adjustment is being negotiated in parallel to BBVA’s cut, which according to the market and the unions could mean the dismissal of between 3,000 and 4,000 employees, 10% of the bank’s workforce in Spain.