EMCC European Monitoring Centre on Change

BBVA

Company/Organisation:
BBVA

Geographic Location

Country: Spain

Company

Sector: Financial services
Financial and insurance activities
64.1 - Monetary intermediation
Number Employed: 94681

Employment Effects

Announcement Date: 21-07-2006
Planned Job Reductions min: 750
Planned Job Reductions max: 750
Type of Restructuring: Internal restructuring
Planned Job Creation: 1000
Other Job Reduction Measures: 750

Additional Information

BBVA is undertaking an internal restructuring process. The objective of this restructuring is to separate private banking from business banking, thereby reducing the regional branches from eleven to seven. As a consequence of this reduction 750 employees will be put on preretirement. Meanwhile another 1000 jobs will be created in the sales department.