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BCP is moving forward with job cuts. Unions Say Up To 1000 People May Leave – Banking & Finance

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BCP is moving forward with job cuts.  Unions Say Up To 1000 People May Leave - Banking & Finance

The BKP is preparing to “cut” the number of workers. The bank will start working from program of mutually agreed reforms and termination from next week. The decision was communicated to the employees of the financial institution by Miguel Maia this Wednesday in a note that Negotsios had access to. Unions say they can leave up to a thousand people.

“The process starts with this note, which I am addressing to all workers, and now I will continue to meet with unions, with the work committee and with DGERT, which may lead to some adjustments in how we planned the execution,” can be read in the note signed Miguel Maya.

“We expect that the period of compliance with the reform program and termination by mutual agreement will begin on June 16 and will last until August 18, after which, if necessary, to achieve reductions in accordance with specific criteria, which we considered to implement unilateral measures to reduce the number of workers. The end of the negotiation period is scheduled for September 20, ”says the executive president of BCP.

However, it is useless how many people can get away with this program. “We have not yet identified the conditions and the specific number of people that should be reached, as we understand that this should be known only after meetings that should be held with representative structures of workers, which, we assume, may take place before June 16. “. In the first quarter of this year, Portugal had seven thousand employees.

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However, unions said in a statement sent this Wednesday that the decision could affect up to 1,000 workers. “Miguel Maia, CEO of Millennium bcp, met this morning with Maïs Sindicato, SBC and SBN to brief them on the decision to reduce the staff to 1,000 employees, the information was also shared today with the bank’s bank employees, “citing, noting that” if the process goes well from the bank’s point of view, it may not be necessary to get to a thousand exits. ”

According to the information provided to the unions by the CEO, “the plan will have a greater impact on central services and is justified, according to the CEO, by the introduction of technological developments that have reduced the need for the current number of workers.” In addition, “the bank is also cutting back on outsourcing services, leaving only those that have clear technological advantages,” they add.

Regarding the terms of the program, the statement says that “Only workers aged 57 and over will be eligible for retirement, but they can also be contacted for termination by mutual agreement (RMA). “

In the case of an RMA, “BCP offers 1.4 effective monthly remuneration (RME). Workers who are considering this opportunity should be aware immediately that they will not be eligible for unemployment benefits. ”

Reduce to improve efficiency

According to the CEO of BCP, in a note sent to workers, “When we presented the strategic plan Mobilization 2018/2021, we were convinced that the phase of economic recovery and the balance of government accounts in Portugal would be reached by the end of 2019. and that also by that date, the BCP recovery will be completed with the prospect that the staff adjustments that we have already identified as necessary to ensure the bank’s competitiveness will be more relevant in 2020. ”

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But the first quarter of 2020 was marked by a pandemic crisis that caused BCP to postpone its downsizing plans.

<< While it is expected that, given the nature of the crisis, the economic recovery will be good, there has also been an acceleration of the pandemic crisis and an increase in a number of trends that were already expected over a longer time frame, as well as how this has exacerbated the impact of a number of specific factors that very significantly affect and condition the competitiveness of banks headquartered in Portugal, ”reads the note.

This includes “changing customer interaction habits and preferences”, “strong incorporation of technology into business models and processes in the financial sector,” but also “customer demand for prices with very low margins due to their ability to today they can use any bank or financial services operator (banks, Fintechs, BigTechs) at no additional cost. “

In addition, says Maya, “the efficiency of the bank’s business model should ensure sustainable profitability at a level higher than the cost of capital that we use, because if we do not, we do not (ROE 3.1%, 5, 1% and 5.2% in 2020, 2019 and 2018 respectively), it will not be possible to achieve the prosperity necessary to adequately reward workers. ”

The decision to reduce the number of workers “was taken on the basis of a thorough analysis of needs and existing capacity, taking due account of the specifics of the bank and the impact of new technologies on our business models and processes, as well as the expected evolution of BCP, which will be introduced to the market during the scope of the strategic plan review “, noting that “the restructuring to be undertaken will be intense and will not involve immediate cuts to levels equivalent to some of our major competitors.”

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“The coming months will be very difficult. We must be able to implement the plan with minimal disruption to the bank’s operations, but we believe in the organization and the ability of people and teams to do it with the utmost rigor, ”he concludes.

(News updated with more information.)

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Economy

Everything has been delivered. 10 Bugatti Centodieci are already in the hands of the owners

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Everything has been delivered.  10 Bugatti Centodieci are already in the hands of the owners

OAll Bugatti Centodieci have been delivered, the Molsheim-based brand said on Monday. Cristiano Ronaldo received the number 07 in October this year. and Bugatti has now revealed that the latest unit – #10 – is already in the possession of its owner.

“The Centodieci combines all the values ​​of the Bugatti brand in an extraordinary package: rarity, innovation, heritage, craftsmanship and unrivaled performance. The production batch of 10 units was so in demand by our customers that it was sold before the Centodieci. was even officially presented,” said Christophe Piochon, president of Bugatti.

This latest example is finished in Quartz White with carbon fiber trim on the bottom and matte grilles. The brake calipers are painted in Light Blue Sport, as is the logo on the rear that refers to the EB110, the iconic Bugatti model that inspired this Centodieci. Inside, the predominant color is also blue, as you can see in the images above.

This block is powered by the same block as the other nine instances. The 8.0-liter W16 with four turbines is capable of developing 1600 hp. In terms of performance, this allows the Centodieci to hit 100 km/h in just 2.4 seconds and reach a top speed of 380 km/h.

Recall that each unit costs the owners eight million euros before taxes.

Read also: We already know when the Bugatti Centodieci fell into the hands of Ronaldo.

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Economy

The first Dacia hybrid. “The cheapest hybrid family on the market”

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The first Dacia hybrid.  "The cheapest hybrid family on the market"

BUT Dacia revealed this Monday that the hybrid engine has been available since March on the Jogger, the Romanian brand’s model known to be available with a seven-seat variant.

The Jogger Hybrid 140, Dacia’s first hybrid, will hit dealerships in March, but customers can expect and order it as early as January.

The price has been revealed by Dacia and since it’s only available in the seven-seater SL Extreme, it starts at €28,800. The brand claims it is “the most affordable hybrid family car on the market.”

Available in six existing colors to celebrate the launch of this hybrid, there will be a slate gray version, as you can see in the images above.

Equipped with a 1.6 liter four-cylinder petrol engine with 90 hp, the Jogger is also powered by two electric motors (a 50 hp engine and a high-voltage starter-generator). The total power is 140 horsepower. The electric transmission is automatic, four-speed, connected to an internal combustion engine, and two speeds are connected to an electric motor. This combined technology was possible, according to Dacia, only due to the lack of clutch.

Combined with the energy recovery levels of the 1.2kWh (230V) battery pack and the efficiency of the automatic transmission, regenerative braking delivers all-electric traction on 80% of urban journeys and saves up to 40% of fuel compared to a combustion engine vehicle.

Read also: Dual-fuel Dacia Jogger Eco-G. We tried 5 seater and LPG…

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Economy

See how Tesla tests its electric Semi truck in the worst-case scenarios

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Tesla Semi camião elétrico testes

Tesla has finally been able to bring its long-awaited Semi to market. This electric truck promises to revolutionize transportation and bring all the unique characteristics of this type of electric vehicle to this class of vehicles.

Now that the first units have been delivered, there is hope that they will finally be mass-produced and reach more transport companies. With so many promises to be kept, a new video is now emerging showing Tesla testing its Semi truck under worst-case scenarios.


Tesla Semi is already on the market

Like all Tesla electric vehicles, Semi follows the same line of creating a unique design associated with a platform with the most modern technology available. The proof is in what was presented to the public and surprised most people.

To prove the quality of this new proposal, Tesla published in your LinkedIn account new video. In it, he reveals some of the testing he's done to determine the strength and quality of the Semi's design and its (potential) durability.

Tests to prove its durability

It has been revealed that the Tesla electric truck is subjected to numerous tests and its application in the worst scenarios that drivers may face. It doesn't stop at the ruggedness of the Semi's designs, but goes further and focuses on the motors and batteries themselves.

This is the proof that many have been waiting for to ensure that this new proposal is not limited to a lot of autonomy. Its resistance is great and will provide greater durability, further enhancing the Semi's value and performance.

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high quality electric truck

Tesla has already showcased the Semi's quality with a video showing its truck driving roughly 500 miles on just one charge. The big news here is that he managed to make this long journey with a maximum load of about 37 tons.

Now Tesla remains to widely place the Semi on the market. At the moment, only a few companies have access to this new product, with a very long list of pending deliveries, who want to start mass-using this electric truck offering.

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