With the objective of saving R$ 535 million this year, Banco do Brasil announced the closure of several branches
Banco do Brasil, the largest bank in Latin America with the largest branch network in Brazil and abroad, announced yesterday the opening of two voluntary resignation programs, in which around 5.000 employees will adhere. The bank also announced the closure of 361 units – 112 branches, 7 offices and 242 service stations. Such measures will save 535 million reais by 2021 and 2,7 billion reais by 2025.
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The reorganization plan is expected to achieve efficiency improvement and optimization at 870 service points across the country, including the shutdown of 361 units.
In a note, the Bank says that "The reorganization of the service network aims at adapting it to the new profile and behavior of customers and comprises, in addition to the structure optimization measures described above, other revision and resizing movements in the boards, support areas and network, favoring the specialization of service and the expansion of the offer of digital solutions".
resignation program
The so-called incentive employee voluntary termination methods are as follows:
Staff Adequacy Program - PAQ: in order to optimize the distribution of the workforce, equating situations of vacancies and excesses in the bank's units. In addition to the termination option, the PAQ encourages lateral movement to units where there are vacancies.
Extraordinary Termination Program - PDE: available to all BB employees who meet the prerequisites and is specific to encourage dismissal, with a limit of 5 adhesions.
