After seventeen hours of negotiations, the Catalunya Banc and the SEC, CCOO, UGT and CSICA unions have reached agreement on plans by the company to shed 2,395 employees under an ERE employment expedient.
The meeting ended at 03:00 with the signing of an agreement in principle. The agreement came on the final day of the statutory period for a negotiated settlement.
Catalunya Banc is, amongst other things, offering compensation of 30 days per year worked with a maximum of 22 monthly installments. Employees required to leave the company will also receive a bonus of €700 per year of service and those leaving voluntarily could receive a sum of between €12,500 and €27,500 depending upon length of service.