Sabadell receives more requests to join the termination plan than the places offered

Sabadell headquarters in Alicante.

Banco Sabadell has received requests for voluntary adherence to your adjustment plan above the 1,800 maximum positions offered, as reported to Europa Press in sources close to the union organizations.

This Wednesday was the last day to sign up for the exit plan proposed by Banco Sabadell, which prioritize early retirements and early retirements, although a residual part will leave the bank with an agreed compensation of 35 days per year worked and a maximum of two annuities.

The sources consulted confirm that more than 1,800 requests have been received for voluntary adhesion to a plan by which Sabadell offers early retirement with 75% of annual salary up to age 63, with a maximum of 280,000 euros for those born between 1958-1961, and 300,000 euros for those born between 1962-1964. Given the uncertainty of the labor framework, the bank undertakes to cover one year of the payment to Social Security in case the first early retirement age is delayed, now at 63 years.

To those who retire early from the age of 63, offers them 10% (for those born before 1956) or 20% (for those born between 1956 and 1957) of the annual salary.

By filling the 1,800 places on a voluntary basis, the bank’s objective of saving with the efficiency plan would be confirmed about 115 million euros in annual costs. The financing of this efficiency plan will be carried out with the capital gains from the sales of part of the ALCO portfolio, with a neutral impact on capital and 1,300 million latent capital gains.

Sabadell will communicate the Friday, January 15, 2021 requests to the voluntary outing plan that have been approved by management.


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