Unicaja Banco has proposed

a reduction of 1,513 jobs and the closure of 395 branches

, which is equivalent to

16.5 percent of the total workforce

and

27 percent of the branch network after the integration of Liberbank

, as reported union sources of the meeting of the negotiating table held this Tuesday.

This Tuesday's appointment was the second of the informal consultation period, prior to the formal negotiation period of the Employment Regulation File (ERE).

The bank has stated that the causes that lead it to make the adjustment of employment and offices are the deterioration of the business, the drop in the interest margin, the digitization of banking and negative interest rates.

As the independent union Cesica has broken down, the surplus identified by the company amounts to

1,950 employees

, although there is a total of

437

Unicaja

workers

pending with exit commitments, so excluding this group,

the total number of jobs affected amounts to 1,513.

The downsizing will affect office workers to a greater extent.

Specifically,

Unicaja Banco

has proposed a reduction of 1,005 jobs in the branch network and

508 jobs

in central services.

According to the labor representatives, Unicaja Banco has communicated during the meeting its intention to apply geographic mobility, to preserve the maximum number of jobs possible, and to harmonize the working conditions between the employees of Unicaja Banco and those from Liberbank, but without incurring in more costs.

It has also announced the closure of

395 offices

, of the total of

1,450 that it currently has

.

During the negotiation, the representatives of the workers will ensure the maintenance of the quality of employment, that the exits and measures affect the least number of people possible, that these are voluntary and that the conditions of the workforce are approved without reducing the conditions labor for any group.

"From the UGT we oppose any process that entails non-voluntary departures and we demand that colleagues on compensated leave from Liberbank be included in these numbers," they have indicated from said union.

Synergies from the merger with Liberbank

Unicaja Banco legally integrated

Liberbank on July 30

, an operation that has resulted in the fifth largest Spanish banking entity, with assets close to

113,000 million euros

and more than

4.5 million customers

.

According to the merger plan, the efficiency ratio will be around 50 percent and profitability will reach at least 6 percent in terms of ROTE in 2023, while synergies will reach

192 million euros per year

, fully as of

2023

.

The

CEO of Unicaja, Manuel Menéndez

, said last week at a financial meeting held in Madrid that the assessment of the merger operation was "very positive" and that all the synergies foreseen in the initial moments were fulfilled, to which they add others related to costs.

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