Banking prepares departure of 5,000 workers in the short term | Banking


Poor management, breakdown of financial activity, digitization, new competitors and, now, the covid-19 pandemic. These are some of the causes that underlie the strong “weight loss” of the banking sector that, between 2011 and 2019, lost more than 10,000 workers and closed 2,279 branches, according to data from the Portuguese Banking Association (APB). But the process is far from over and, among the cuts already made or to be made in 2020 and in the next two to three years, the suppression of jobs is expected to amount to close to five thousand only in Montepio, BCP, Novo Banco , Caixa Geral de Depósitos and Santander, and to a lesser extent at BPI.


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