Saving Banks of Catalonia, Manresa and Tarragona meeting today union reps connection with the merger

These conditions affect both the wages, pension plans or conditions of credits resulting from the merger.

The Saving Banks of Catalonia, Manresa and Tarragona are meeting today with union representatives in connection with the merger.

Today's meeting is to harmonise working conditions of staff of the three banks, it is to improve working conditions of staff in line with Caixa Catalunya’s template progressively over a period of three years.

These conditions affect both the wages, pension plans or conditions of credits resulting from the merger.

In addition, workers have agreed to review the closure of a number of frontline offices and branches, also linked to signing a labour agreement, which is key the merger.

However, management maintains its initial plans to close 500 branches and cut1,800 workers, which is the core of the differences with the unions.

Some sources expect that tomorrow's meeting will reach an agreement that could be linked to reducing the number of offices to close, possibly up to a hundred fewer than they sought to close.

Workers and management of the banks have more than a week to come to an agreement that would create the fifth largest savings bank in Spain.




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