Connect with us

Economy

Millennium BCP’s “Deep Transformation” Leads 800 Employees to Quit by Year End – Executive Digest

Published

on

Millennium BCP's “Deep Transformation” Leads 800 Employees to Quit by Year End - Executive Digest

Miguel Maia, CEO of Millennium BCP, said the bank will reach the end of the year with a staff reduction of 800, which means a “deep transformation” to attract talent, the executive added.

“I see that BCP is competing with banks in Europe and the Eurozone. This year, BCP will reach the end of the year with a reduction of 800 people. This result is associated with a profound transformation of business models, ”explained the head.

With regard to labor law reforms, Miguel Maia said he fully agreed with the right to disconnect, but not with the obstacle that the employer cannot “communicate with people”.

BCP has already announced a collective layoff of 62 employees, according to the CEO’s announcement to bank employees, to which Lusa had access.

As for other exits, the bank has reached an agreement with approximately 700 employees on consensual layoffs, early retirement and pre-retirement retirement.

Unions have accused banks of reprisals and blackmailing workers, believing that they are forcing them to leave through layoffs (without access to unemployment benefits) or early retirement. They add that this is at high profit margins.

BCP’s profit in the first half of the year was 12.3 million euros (84% less than in the same period in 2020), while Santander Totta’s profit was 81.4 million euros (52.9%) less.

See also  Elon Musk has sold $ 1,020 billion worth of Tesla shares in recent days
Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Economy

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

Published

on

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.

See also  Evergrande Real Estate Group shares plunge to 11-year low - stock exchange

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.

Continue Reading

Economy

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

Published

on

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.


See also  Elon Musk has sold $ 1,020 billion worth of Tesla shares in recent days
Continue Reading

Economy

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

Published

on

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.”

See also  EUR/JPY, AUD/JPY Levels to Watch

loading…

Continue Reading

Trending