Montepio asks for exception to facilitate the termination – Observer

The Caixa Económica Montepio Geral has asked the Government to the status of the restructuring company, a condition of exceptionality under the law to be able to increase the number of terminations, ensuring to workers who agree to leave in exchange for a compensation, the access to unemployment insurance

The information is being advanced by the journal Public and has already confirmed to the Observer next to the source of Montepio. According to the same source, the accession to the plan of termination by mutual agreement which exceeds the limit that allows employees, under normal conditions, have the right to unemployment benefits. To overcome this legal limit, companies have to be in the process of restructuring.

The status of the company in the restructuring was requested in October, with the bank mutualista justified this request with the need of "release from share", to ensure that workers who leave in the termination by mutual agreement, to access to unemployment benefits, according to sources involved in the process, cited by the Lusa news agency.

A worker is only entitled to the allowance in the case of involuntary unemployment. But the labour law allows companies to make agreements with workers with a view to a termination friendly while maintaining the right to unemployment benefits. Each company has a quota (which depends on its size) for these cases, which may exceptionally be extended if the request, claiming the reason for the restructuring, viability, or recovery, having obtain the permission of the Government.

The share that the Caixa Económica Montepio Geral (CEMG) has currently is about 60 spaces, and is virtually consumed by the entity led by Félix Morgado now asks more than 120, arguing that there are workers that expressed recently by the intention of leave – taking conditions similar to those offered in the restructuring process that took place in the first half – and that the share of the current does not include all situations.

The classification of the company in the restructuring is allocated by the Ministry of Employment and Social Security, that you must first evaluate the request. But the request from the caixa económica arrived via IAPMEI, which is overseen by the Ministry of Economy. Also, according to the Public, the request made by the management of the economic, led by Félix Morgado, has not been concerted with the mutual association which is the sole shareholder of the bank and have raised doubts in the general meeting of Montepio geral which was suspended on Tuesday. The assembly would discuss the amendment of articles of association of caixa económica so as to open the door to the entry of new shareholders.

After you have negotiated the exit of 200 employees, through reforms in the past year, the bank continued with a process of pre-retirement and termination by mutual agreement. The goal, revealed in may José Félix Morgado, was to reduce the framework to be effective in 150 workers. Have been following the accession to this plan, and to facilitate the access of members to unemployment benefits, the caixa económica asked to be considered as a company in restructuring.

THE CEMG has been discussing with the unions that represent the bank a new company agreement, after not having signed the recent revision of the Collective Labour Agreement of the Banking Sector.

The collective labour agreement specific to the Montepio, between other points, allows you to reduce costs in the next two years, through mechanisms such as freezing wages and contributions and raising the retirement age.

The Caixa Económica Montepio Geral carried out, already this year, a restructuring process with the sale of assets and slimming of the structure (branches and employees) with the objective of improving the soundness of the institution and reduce costs. Through that process left about 350 people, by pre-retirement, early retirement and termination-friendly.