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Banker Unions Demonstrate Against “Mass Job Cuts” – O Jornal Económico



Banker Unions Demonstrate Against “Mass Job Cuts” - O Jornal Económico

For the first time, seven banking unions have banded together against banks’ announced restructuring plans. They have already asked the Prime Minister for an audience and are going to continue the general demonstration of the sector, the date of which is to be announced tomorrow, as Jornal Económico knows.

All Portuguese banking unions [SNQTB, MAIS Sindicato, SBN, SIB, SBC, STEC e SinTAF] they met yesterday and agreed to “express their outrage and firm opposition to the unjustified and unnecessary massive job destruction process in a crucial sector to support Portuguese companies and the national economy, as bank officials actually demonstrated when
the pandemic was at its most dangerous and severe stage. “

Trade unions are now demanding a number of measures, such as “an immediate suspension of programs to lay off workers; and replacing termination of agreement with mutual agreement for early reforms and special attention in situations of social vulnerability ”.

Unions are demanding that “all retraining opportunities be considered, as bank workers have always demonstrated a complete ability to adapt to one of the most advanced banking sectors in Europe.”

They also ask that “all activities carried out in outsourcing or temporary work mode be carried out by bank employees”.

Trade unions have asked the Prime Minister for a hearing to present “this package of measures and call for awareness of the continuous and accelerating destruction of the middle class, which directly affects more than 60,000 bank employees and their families, leading to a clear deterioration in the situation.” social conditions and the growth of poverty in our country ”.

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Moreover, they decided to hold “a demonstration, a date to be announced soon, of all bank employees to convey a message of indignation to financial and government institutions to make it clear that we are ready to defend our work and fight for our rights to the last consequences “.

In a statement, unions remind that “banking workers are currently facing several massive and unprecedented job layoffs, and the constitutional right to job security is under attack as intensely as unthinkable.”

In this context, “some banks have instituted restructuring processes under the guise of opposing thousands of bank employees with proposals for retirement by mutual agreement (RMA) or early retirement with a particular focus on RMAs.”

Trade unions state that “in response to this situation, early notification of the implementation of unilateral measures, that is, collective layoffs, with a specific announced deadline contrary to what is stipulated by labor laws, has also been popularized, creating (or seeking to create) panic and widespread fear among banking employees, so that they stop fighting for their rights. “

Santander and BCP have announced restructuring plans with staff leaving. Santander has 685 employees and BCP has just over 800 people.

Banco Montepio was the first to announce an “expanded plan” to lay off 800 employees and “the status of a company in the process of restructuring was granted to Caixa Económica – Montepio Geral until September 2023 and up to 400 people. after analysis by the Social Security Institute and IAPMEI, and in consultation with social partners and the Portuguese Banking Association. “

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The company said this year that the restructuring of Banco Montepio is ongoing, with almost 250 employees leaving in 2020, while more than three dozen branches have also been closed.

Bankers’ unions champion the fact that the Portuguese banking sector, which has one of the best performing in Europe, “with this massive job cuts, namely a 15% to 25% cut
workforce and the closure of more than 15% of the branch network contributes to the phasing out of some activities in Portugal and an increase in installed capacity to support the population and companies. “

In a statement, they state that “the current situation is very unfortunate due to the fact that there are threats
collective dismissal and putting pressure on employees in order to make a decision in a short time. The situation is aggravated by the fact that these processes occur during the period of regular vacations and the apparent resumption of the Covid-19 pandemic. ” They also warn that “at the same time for workers and retirees, the banks, now returning to profit, are proposing a collective bargaining freeze on the wage and pension scale.”

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Portugal Could Become a Reshoring Hub in Europe According to New Report – Executive Digest



Portugal Could Become a Reshoring Hub in Europe According to New Report - Executive Digest

European companies are looking in the EMEA region (which covers Europe, the Middle East and Africa) for an alternative to manufacturing and sourcing in Ukraine and Asia after months of supply chain disruptions, according to a new Supply Chain Disruptions report sponsored by JLL.

According to this report, there are several companies operating in the retail and manufacturing sectors that have already decided to partially or completely redistribute their production, and the data shows that the new European beneficiaries of the “reorientation” are Central Europe and Romania, and the European borders with Turkey and Morocco are also on the radar.

This trend follows a pandemic that has caused disruption in distribution networks and serious problems in ports and airports, so companies have begun to choose “reshoring” as an attempt to solve the problem of disruption in supply chains.

JLL also expects that the shortage of land and labor will boost demand in Central Europe, from the primary market to the secondary and tertiary markets, the latter strategically located.

Data from Flexport (a global logistics platform) shows that the average container flight from Asia to Europe has almost doubled since 2019, and Buck Consultants International (BCI) research confirms the same as JLL: more than 60% of US and European companies plan to send part of their products back to their country of origin.

Given the existing transport networks and logistics gateways, it can be said that goods will circulate primarily along two distribution corridors: the traditional European dorsal (from central England to northern Italy) and the emerging “Black Sea banana” connecting Budapest. to the Black Sea.

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Marlene Tavares, Head of Retail Investment and Logistics at JLL, explains: “The discussion about nearshoring (where operations move to a country close to the country of origin, as opposed to offshoring) is not new. Rising wages in places with low-cost production and increased risk from climate change, strikes and accidents such as the blockade of the Suez Canal have sparked controversy over the issue over the past decade.

However, a more favorable cost-risk ratio and the loss of many manufacturing infrastructures in Europe continued to give the Asian continent an advantage in hosting large distribution centers and manufacturing a wide range of products. This scenario is now changing due to the recent situation as well as new consumption habits. In this context, Portugal has a competitive advantage due to its very attractive geographic location and demographics, which place us prominently in the European Neighborhood Strategy,” he emphasizes.

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Emirates increases total number of huge Airbus A380 flights to London to no less than 9



Emirates increases total number of huge Airbus A380 flights to London to no less than 9

Airbus A380 – Image: Emirates

Emirates announces this Monday, December 5th that it has stepped up its operations at Gatwick Airport, one of the terminals serving London, England, by adding a third daily flight on a large Airbus A380 double-decker aircraft.

The additional operation will offer more than 1,000 seats on the Dubai-Gatwick line every day of the week. Emirates flight EK11 departs Dubai at 02:50, flight EK15 at 07:40 and flight EK09 at 14:25.

In addition to the company’s services at Heathrow Airport, which has six A380s a day, the connection between Dubai and London now has an incredible 9 flights a day on the world’s largest passenger transport aircraft.

Emirates currently serves the UK with 119 weekly flights from seven hubs, including: London Heathrow Airport (A380) six times a day; three times a day to London Gatwick (A380); daily service to London Stansted (B777); three times a day to Manchester (A380); dual daily service to Birmingham (B777); daily flights to Newcastle (B777); and a daily service to Glasgow (B777).

According to Emirates

With a degree in mechanical engineering and postgraduate studies in aircraft maintenance, he has more than 6 years of experience in the field of technical control of aircraft maintenance.

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Socrates, Granadeiro and Bava demand compensation for bad faith litigation from Espírito Santo International



José Socrates, Enrique Granadeiro and Zeynal Bava are demanding compensation for what is left of the assets of Espírito Santo International (ESI). The Central Civil Court of Lisbon, in which three defendants and five defendants, including Ricardo Salgado, are suspected of causing more than 72 million euros in damage to the GES universe.

Challenging this charge, in addition to a plea of ​​not guilty, the three are asking the court to sentence the insolvent property complex “to pay compensation for the recovery of all costs and restitution for all losses caused by this form of litigation,” the defense stressed. former Prime Minister of the Socialists.

The bankruptcy filing states that since at least 2007, the defendants have been paid “large sums” that turned out to be “illegal and unreasonable counterparties” in defense of the interests of GES, “namely, in the strategy laid out by Ricardo Salgado in defense of the interests of the group in PT ”, but also in the mission to “put an end to the participation of the PT group in the share capital of the operator VIVO” – Luxembourg masters Alain Rukavina and Paul Laplum, managers of insolvent property and authors The process said that this money was transferred “to the detriment of the assets” of ESI and the Group’s offshore companies HPS.

As for the administrators of insolvent property, Granadeiro and Bava were to be paid “for their work contrary to their professional duties and interests of the PT in their positions of authority”, and Socrates, as prime minister, would receive money from the government. Espírito Santo Group “to act in accordance with the strategies identified by Ricardo Salgado for PT to the detriment of the public interest.”

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