Caixa Geral’s new ‘bank on wheels’ – 2,000 staff need to go

While Portugal’s MPs try and uncover the documents and files needed to see exactly what did go on at the State-owned bank Caixa Geral de Depósitos, the new management is pushing ahead with cost savings by closing branches and shedding staff.

A voluntary terminations programme has been added to the existing early retirement package to speed up the reduction in staff numbers which is going well, albeit at significant cost.

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