RIO DE JANEIRO, BRAZIL – Banco do Brasil announced today an institutional reorganization for the transfer of employees between the several cities in which it holds branches. In addition, a Staff Adequacy Program (PAQ) has been established for bank employees and will offer incentives ranging from R$20,000 (US$5,000) to R$200,000 for those who voluntarily resign.
According to the state-owned bank, the goal is to improve service efficiency and reduce overstaffing in some cities. The termination option is exclusively for employees who are assigned to positions being eliminated.
Employees who have worked in the bank for up to twenty years will receive payments up to 7.8 times their gross monthly salaries as an incentive for termination. Those who have been with the state-owned company for over twenty years will receive up to 9.8 monthly salaries as an incentive for termination.
Extra incentives for resignation
In both cases, the R$20,000 floor and the R$200,000 cap must be respected. The bank will also pay monthly health plan fees for employees and dependents for one year after termination.
Those who subscribe to the PAQ are exempted from compensating costs with training, including MBA courses, undergraduate courses, languages, and certifications, provided they are enrolled and regularly attend classes.
Employees are also relieved from returning the advantages they may have received through appointment or terminations that occurred less than 365 days from the termination date.