EMCC European Monitoring Centre on Change



Geographic Location

Country: Spain


Sector: Financial services
Financial and insurance activities
64.20 - Activities of holding companies
Group: CriteriaCaixa

Employment Effects

Announcement Date: 04-01-2019
Planned Job Reductions min: 2000
Planned Job Reductions max: 2500
Type of Restructuring: Internal restructuring
Foreseen End Date: 31-12-2021

Additional Information

The management of CaixaBank, the Spanish financial services company, has announced a collective dismissal plan. The entity plans to reduce the number of its offices, closing 821 urban offices until the end of 2021, leading to between 2,000 and 2,500 job losses. The company aims to advance in the digital transformation of its network, but maintain offices in rural areas. A spokesperson for the entity has made clear that the job cuts will be negotiated with the trade unions, which have warned that they will not accept direct dismissals.

Previous restructurings took place in 2018 (70 jobs created), 2016 (431 jobs lost) and 2015 (750 jobs lost).