nThis week, BCP launched a plan to cut workers, in which the bank contacted every worker who wanted to leave and offered termination terms (compensation values from the start).
Workers may leave on early retirement (for workers aged 57 and over) or upon termination by mutual agreement. In this case, whoever leaves upon termination by agreement does not receive unemployment benefit.
On June 9, after BCP announced its employee leave programme, unions affiliated with the UGT (the Financial Sector Workers Union of Portugal, the Union of Bank Workers of the Centre, and the Mais Union) indicated that it was BCP’s intention to leave. Up to 1000 workers.
This week, on Wednesday, the bank held meetings with unions and even reported that it admits to resorting to collective dismissals.
In the presentation to the unions, to which Lusa had access, the BCP indicated that collective dismissal, according to legal terms, includes “all those who do not accept the negotiation process”.
As early as June 9, the bank spoke of “unilateral measures to reduce the number of workers.”
According to the Jornal Económico, according to which the BCP recognizes the recourse to collective dismissal, among the conditions for termination by mutual agreement is a compensation payment of 1.4 wages for each year of work.
Economics also reports that “the Chinese central bank initially wanted to propose 1.3 salaries, but after meeting with unions, it increased the amount to be paid for voluntary departure.”
The so-called “pre-negotiation process” of the Chinese central bank continues until August 18, with the bank anticipating that it may proceed with the collective dismissal from the end of August.
The goal is to finish the restructuring plan on December 5th, according to the offer to the unions.
When announcing the workers’ exit plan, CEO Miguel Maya said the bank had postponed the planned workforce cuts for 2020 due to the pandemic crisis, after “deciding then that it was not appropriate to undertake the workforce reduction process that year. It was being worked out.”
According to Miguel Maya, “the orderly process of downsizing is for the team of CEOs” “the hardest and heaviest decision to make” since they took office, but he also stated that if they didn’t make those exits now it would be “appropriately compromising the future of the bank and its employees.”
The director stressed that the exit was not made by comparing the number of employees of other banks but “based on a comprehensive analysis of current needs and capabilities, taking into account the peculiarities of the bank and the impact of new technologies on business models and processes, as well as the expected development of BCP.”