1000 to leave Millennium bcp

 In Banks, News

Portugal’s bank BCP is preparing to downscale its workforce by around 1000 staff.

The bank is embarking on a programme of reform and amicable redundancies from next week. Staff were informed of the decision by the bank’s CEO Miguel Maya on Wednesday. Unions say that at least 1000 will leave.
“The process begins with this note to all staff and will be followed by meetings with unions — the Workers’ Commission and DGERT which may lead to some adjustments in the way in which we carry out the program,” says the note signed by Miguel Maya.
“We expect that the application period for amicable redundancies will begin on 16 June and run until 18 August, if necessary followed by implementing unilateral measures to reduce staff numbers. The end of the negotiation period is set for 20 September,” added the BCP CEO.
“We are not yet setting out the specific number of people or exact conditions yet as that will only be known after the meetings with the unions which we think will happen by 16 June,” he continued.
At present the bank has 7,000 employees in Portugal.
The unions also sent a communiqué on Wednesday stating that the decision could affect up to 1,000 employees.
“Miguel Maya, CEO of Millennium bcp met this morning with unions Mais Sindicato, SBC and SBN to inform them of the decision to reduce staff numbers of up to 1000, information which was also sent to bank staff today,” adding “if the process goes well from the bank’s point of view it may not be necessary for 1000 staff redundancies”.
Maya said, “The coming months will be very difficult. We must be able to implement the plan with the minimum of disruption to the bank’s activities, but we believe in the organisation and in the staff and teams’ ability so we can do it throughly.”