Caixabank proposes to limit the number of layoffs to 6,750 Reuters

Madrid (Reuters)-Spain’s Caixabank said that as thousands of employees took part in another one-day strike on Tuesday, it has offered to reduce its proposed layoffs by more than 1,500 to 6,750.

After Caixabank made the latest proposal to the union, a spokesperson for Comisiones Obreras (CCOO) said that employees are still protesting against layoffs in about 30 cities in Spain.

After Caixabank acquired Bankia in April, it stated that it plans to lay off 8,291 employees, one of the largest layoffs in Spain, in order to meet the needs of customers turning to the Internet.

Caixabank said in a statement that it is now proposing to reduce this number to 6,750 from 6,950 a week ago, while also increasing compensation for those who leave the bank.

Reaching an agreement with the union is a key aspect of the Bankia transaction, which will save 770 million euros (US$916 million) in costs per year by 2023.

CCOO hopes to lay off employees through voluntary layoffs and stated that the number of layoffs should be limited to 6,300.

It also called for increased financial compensation.

A CCOO spokesperson said that it is too early to evaluate the bank’s latest offer as the negotiations are expected to end on Tuesday.

CCOO stated that 90% of Caixabank’s 5,552 branches in Spain were closed due to strikes, although neither the bank nor CCOO revealed how many of its approximately 44,000 employees participated in the strike.

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