The National Union of Banking Staff and Technicians (SNQTB) has advocated in a meeting with Parvalorem’s management that workers who do not participate in the exit program should continue within the public enterprise sector.
In a statement released today, the SNQTB states it met Thursday with Parvalorem’s Board of Directors, which is due to close by the end of 2027 and will promote a program of mutual agreement terminations until then.
During the meeting, the union requested the retention of jobs for employees who do not wish to join the exit program, suggesting it would be crucial to integrate them “into entities of the public enterprise sector to ensure continuity and job stability.”
According to the SNQTB, not only is it “a small number of workers,” but they are also specialized and technically trained “in a highly strategically important area, such as credit recovery and asset management.”
At the meeting, Parvalorem “reaffirmed its intention to proceed with the liquidation” of the company by the end of 2027 and “expressed willingness to collaborate in finding solutions to promote the employability of its employees within other state entities.”
On Thursday, UGT-affiliated banking unions noted that Parvalorem is moving forward with this program but urged employees to consult their legal services, stating that the template is generic.
In the view of Mais Sindicato, Sindicato dos Trabalhadores do Setor Financeiro de Portugal (SBN), and Sindicato Nacional dos Trabalhadores da Banca, Seguros e Tecnologias (SBC), the termination contract template sent to all employees “is generic and will be subsequently adapted to each case,” not considering specifics such as seniority.
Parvalorem was established by the state for credit recovery and the sale/liquidation of assets from the former Banco Português de Negócios and will be subject to liquidation and closure by 2027, by which time it must revoke ties with its employees.
As part of the restructuring, the company has launched a program for concluding termination agreements with employees that allows access to unemployment benefits.
The workers must choose their departure date by the end of October this year.
