The management of BBVA bank have summoned the legal representatives of its workers to a meeting this Friday, April 16th, as they want to initiate a collective dismissal procedure (which is called ERE), which will affect both the central services as well as the commercial network of the bank, and result in them laying off 7,000 staff.
The company has assured employees in a letter that their objectives are to jointly explore formulas that allow minimizing the impact on the workforce. In the letter, BBVA supports its decision in the context of “profound transformation” for the sector, marked by enormous competitive pressure, low interest rates, the accelerated adoption of digital channels by customers, and the entry of new digital players.
