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Banco do Brasil to Close 361 Branches and Release 5,000 Staff

RIO DE JANEIRO, BRAZIL - In a statement sent to investors, the institution announced that it will close 361 branches and offices, as well as resizing the workforce with voluntary severance packages (VSP). Membership is expected to decrease 5,000 employees.

The bank is planning to adapt its service network in 361 municipalities, maintaining its own branches in 221 and Mais BB banking correspondents in the rest. Under the new model, 1.3 million customers will now have an exclusive relationship manager for digital interaction through the Fale.Com channel.

As a result of the pandemic, digital interaction between customers and . . .

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