CAM Bank to ‘offload’ 973 staff

MORE THAN 970 employees of Caja Mediterraneo (CAM) in the Valencia Region will be affected by the banks plans to offer early retirement and voluntary redundancies this month. There are 853 people older than 55 who have been with the company for at least a decade eligible for early retirement.

A further 120 employees will be offered voluntary redundancy.

This will cost the bank around €200 million.

Of the employees entitled to join the early retirement scheme, 98 per cent are in favour of the measure, according to CAM.

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