BCP moves ahead with staff reduction plan

  • ECO News
  • 9 June 2021

Bank has announced to workers a programme of early retirement and mutual agreement terminations that starts next week and will go until mid-August.

BCP is going ahead with a plan to reduce its workforce, according to a statement sent internally to which ECO had access. The bank has just announced that it will begin a programme of early retirements and mutual agreement terminations next week, which will run until August 18. “In the eventuality that it is necessary to achieve the reduction according to the specific criteria that we have considered,” the bank warns it will move forward with the “implementation of unilateral measures to reduce the number of workers.”

“The coming months will be very difficult. We will have to be able to implement the plan with the minimum disruption to the bank’s activity, but we trust in the organisation and in the capacity of people and teams to do so with rigour,” CEO Miguel Maya announced in the statement.

“We do not yet highlight the conditions and the specific number of people to be covered, as we believe that this should only be known after the meetings to be held with the representative structures of the workers, which we expect to take place by June 16,” the Portuguese bank said.

BCP had 7,000 workers in Portugal and over 10,000 in international operations, although it has shown a downward trend in recent years.