EMCC European Monitoring Centre on Change



Geographic Location

Country: Spain


Sector: Financial services
Financial and insurance activities
64.19 - Other monetary intermediation
Number Employed: 5302

Employment Effects

Announcement Date: 11-02-2020
Planned Job Reductions min: 0
Planned Job Reductions max: 550
Type of Restructuring: Internal restructuring

Additional Information

The bank Ibercaja has announced to workers representatives a workforce adjustment plan affecting up to 550 employees (10%  of the workforce) and the closure of 160 offices (15% of total). The company argues the adjustment is due to economic and productive reasons. Unions demand voluntary retirements plans together with decent dismissal conditions, and that the remaining employees should not be forced to change work location. 

This plan follows the collective dismissal that Ibercaja implemented in 2017 (that affected to 590 employees and closured 140 offices). After that process, the company agreed with unions not to implement new adjustment plans until January 2020.


Update 29/5/2020: Ibercaja and unions have agreed to cancel the adjustment workforce plan because of the current economic uncertainty due to the impact of the COVID-19 crisis. Therefore, the company has announced that they will cancel the negotiation process, although Ibercaja informs that a new adjustment plan can be implemented in the future once the situation changes.