Unicaja unions will have 66% of the representation to agree on the adjustment

CC OO, which was currently the leading union force in both Unicaja Banco and Liberbank, will consolidate itself as the organization with the greatest weight in the new Unicaja Banco, with a representation of 28.13% and 128 delegates.

Immediately behind will be two different conglomerates of independent unions, each with a position of around 21%. One of these organizations, the Inter-Union Credit Confederation (CIC) will control 97 representatives, equivalent to 21.31%. This group is present in Liberbank through the STC union, whose implementation is practically concentrated in Asturias (especially in central services) and several other delegates in Cáceres and Cantabria. STC is the third most relevant union in Liberbank (14.94%) with 23 delegates, 19 of them in Asturias. In Unicaja Banco, the CIC confederation operates through the organization SECAR-UEA, which is the second most relevant union in the Malaga bank. SECAR was born in Unicaja and UEA comes from Banco CEISS (Caja España-Caja Duero) and specifically from Caja Duero, where it emerged as a spin-off from UGT. Secar-UEA also uses the Suma + T brand.

The other group of independent unions with great weight in the merged bank will be FINE, with 92 delegates (20.22%). FINE includes two unions from Unicaja in the process of joining (CESICA and ASI) and two from Liberbank: Sibank and Sibanca, this one only in Castilla-La Mancha. These groups come from the old CSICA, dissolved in 2016. In Asturias and Cantabria 7 delegates were elected as CSICA, representing 1.54% of the total in the new bank. If they joined FINE, this confederation would slightly surpass CIC as the second union group, with 21.76% and 99 delegates.

UGT, with 83 delegates (18.24%) will be the fourth union force and CSIF, with 37 representatives (18.24%) will be the fifth. CSIF is only established in Liberbank, where it is the second most important union, and will therefore be the organization with the most weight with exclusive delegates from the northern bank.

The Asturian CSI and the Cantabrian Apecasyc will have a representation of 1.54% and 0.88%, respectively, therefore, as CSICA, they do not reach the 5% required to have their own presence at the negotiating table. However, the tradition is that all unions participate by assignment of a position by the majority organizations.

Asturias, which has a different election calendar than the rest of Liberbank and the banks from former savings banks, should have celebrated the renewal of union representation in its network of offices in 2020 but it was postponed due to the pandemic. In the network of offices in Asturias, the first union is currently CSI. In the rest of the regions in which Unicaja Banco operates and in which it will operate after the merger, the next elections will be held in November 2022, therefore the negotiation process of the labor restructuring and the central services that the merger intends Carrying out from mid-2021 will foreseeably be negotiated by the current union representation in force.

The bank plans to allocate 370 million of the 540 million estimated as costs of the merger to cut staff and capacity.


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