Caixabank announces layoff of 2,157 workers

Caixabank, the largest Catalan bank, has announced a layoff of 2,157 employees, thus cutting 7.3% of its total workforce.

The layoff will affect 1,913 people working in Caixabank offices and 244 from support services, according to UGT and CCOO unions.

The layoff was expected following the company’s plans to close down over 800 branches out of the 4,461 in operation now in the whole of Spain by 2021.

The company argues that the reduction of branches intends to "optimize" the network throughout Spain. In exchange, digital banking will be prioritized "to boost efficiency and flexibility."

These measures, says Caixabank, will contribute the firm increasing its profit from 9.4% to 12% within 3 years, and will help the business in its international expansion.

Expanding remote customer service

Caixabank bank also says it intends to strengthen its AgroBank banking service for rural areas with populations of less than 10,000 inhabitants, as well as expanding its remote customer service, 'inTouch'.

While CaixaBank says that the layoffs will not affect staff in the Barcelona area, union sources add that the bank aims to increase the opening times in all of its remaining offices.

The next meeting between representatives of the bank's management and the union has been scheduled for January 24.