Union calls on BBVA staff in Spain to strike over layoff plans

Published 05/27/2021, 10:11 AM
Updated 05/27/2021, 10:16 AM
© Reuters. FILE PHOTO: A view of Spanish bank BBVA's headquarters in Madrid, Spain, November 17, 2020. REUTERS/Juan Medina/File Photo
BBVA
-

MADRID (Reuters) - A Spanish union said on Thursday it had called on BBVA (MC:BBVA)'s more than 20,000 employees in Spain to hold a one-day strike next week in protest over the bank's plans for layoffs.

Although Comisiones Obreras (CCOO) has scheduled another meeting next week with Spain's second-largest bank, it does not expect any breakthrough, a spokesman for the union at BBVA said.

"Negotiations with the bank have not progressed over layoff plans and we are formally calling a strike on June 2," the spokesman said, adding the CCOO would also call for partial strikes and rallies next week.

A BBVA spokesman declined to comment.

BBVA said last month that it was planning to cut 3,800 jobs and close almost a quarter of its branches, to adapt to a customer shift towards online banking.

The bank recently offered to bring the number down to around 3,300 employees, but CCOO believes this is still too high and is demanding than any cuts should be through voluntary redundancy and early retirement.

It is also calling for greater financial compensation for those who leave BBVA as a result of the cuts..

© Reuters. FILE PHOTO: A view of Spanish bank BBVA's headquarters in Madrid, Spain, November 17, 2020. REUTERS/Juan Medina/File Photo

Formal talks with BBVA to reach any agreement are due to finish on June 4, CCOO has said.

There have been other protests in Spain against plans by five Spanish banks to cut a total of 18,000 jobs, which have coincided with government calls to rein in the pay of top bankers in the country.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2025 - Fusion Media Limited. All Rights Reserved.