The
Banco Sabadell
has proposed this Thursday to the unions the
dismissal of some 1,900 employees in Spain
, about
13% of the workforce
, with the aim that the entity gains profitability and efficiency, as reported to Efe sources of the negotiation.
Sabadell justifies these new adjustments because it considers that the effort made throughout 2021 with the voluntary exit plan is not enough for the bank to be competitive and guarantee its sustainability.
Management has insisted to the unions that current profitability stands at
3%
, well below the cost of capital, higher than
9%
, and that the environment of historically low interest rates, the volume of provisions and investments in technology do not help.
The pandemic has also led to a boom in digitization and a change in customer behavior, which has resulted in a decrease in operations at the bank's offices, whose network would now be, in the eyes of the entity, oversized.
PLACEMENT PLAN
Sabadell has decided to hire the temporary work company
Manpower
to carry out the relocation plan for the
1,900 employees
affected by the collective dismissal of the bank, which at the end of June had a
workforce of 14,648 workers
.
The entity is convinced that the relocation plan is "above market standards" and insists on its intention to reach an agreement with the unions that is beneficial to all and to seek the maximum voluntariness.
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