CGD restructuring deal will see 2,000 bank staff laid off by 2019

Marques Mendes, the former PSD leader who is now employed as a television commentator, has said this week that State bank Caixa Geral de Depósitos is preparing a restructuring plan that will see at least 2,000 bank staff lose their jobs by 2019. The way ahead, he said, will involve “amicable dismissals”. These are the way Novo Banco sought to shed 600 staff recently – with less than ideal consequences.

As many as 69 workers opposed the terms of their dismissal, and Novo Banco retaliated by locking some of them out of their offices, after they had stepped out for a cigarette or bite to eat.

That tactic has now been deemed “illegal” by a Porto works tribunal (click here).

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