Banco Sabadell announces a new ERO

BarcelonaAfter the employment regulation (ERO) files of CaixaBank and BBVA, it is now the turn of Banco de Sabadell. As he has advanced Digital was born and have confirmed sources close to the negotiation in the ARA, this Monday morning the bank has communicated to the unions the presentation of the file. At the meeting, however, say the same sources, the number of people affected was not specified, although in previous meetings there had been talk of between 1,200 and 1,500 workers out of the 15,000 who make up the staff.

“There has been a first contact between the company and the unions to inform them of the presentation of the ERO,” said these sources, who said that on Thursday from 12.00 there will be a second meeting in which it is expected that the number of people who will lose their jobs is specified. The meeting will take place at the headquarters of Sant Cugat del Vallès.

In the two internal documents that have been sent this Monday apart from the staff and to which the ARA has had access, it is detailed that “the procedure will potentially affect all the company’s work centers” and that it will involve changes in the working conditions of the staff and in the geographical mobility. Although the sources close to the negotiations specify that it will have special incidence between the personnel of bank branches since last July already closed 120 and this October is expected to do the same with more than 400.

The same sources have assured that much of the cut is expected to be made through early retirements and voluntary redundancies, although they also acknowledge that there will be “contract terminations”. “The reason for the ERO is to preserve the viability of the company,” they added. In fact, at the end of last year, Banco de Sabadell reduced its workforce by 1,800 people through early retirement.

This ERO was already hinted at by the entity during the presentation of its 2021-2023 strategic plan last May. The new CEO of Sabadell, César González-Bueno, pointed out in his speech the need to seek the profitability of the bank by all means, including a possible regulatory dossier with the aim of reducing costs by 100 million of euros.

Trade union opposition

The unions have already made their first assessment in the face of this announcement. From CCOO they assure that the file is not justified neither by technical reasons, productive nor organizational, that during this year 200 new hirings have been carried out, and warn that “a traumatic ERO approach will not be accepted”. In addition, they recall last year’s 1,800 early retirements.

The union also sees no economic reasons, as justified by the company, after the first half of 2021 closed with a net profit of 220 million euros, 51.5% more than the same period in 2020, when it was in force the strictest confinement. “If it is necessary to give people out of the workforce, there is always the possibility of reaching agreements via early retirement and retirements, in line with what was negotiated in December 2020,” says via statement CCOO. According to the union, Banco Sabadell has more than 2,000 people over the age of 55.

This ERO joins those already presented in the sector this year by CaixaBank, after its absorption with Bankia, and which affects 6,452 workers, and that of BBVA, which has ended up reducing the workforce by 2,935 people, a large thickness in Catalonia. Since the outbreak of the Great Recession in 2008 the financial sector has suffered a staff cut of more than 100,000 employees.


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