Grupo Catalana Occidente S A : GCO (Grupo Catalana Occidente) and the trade unions reach an agreement to implement their voluntary incentivised departures plan

"The programme, which is voluntary, aims to achieve a better organisational adaptation of the workforce for the future corporate unification of the traditional business, ensuring the best conditions and benefits for its workforce."

GCO (Grupo Catalana Occidente) and most of the trade unions representing its workforce (CCOO, CGT, UGT and ICO) have reached an agreement today to carry out the voluntary incentivised departures plan announced by the insurance group last December. The aim is to a better organisational adaptation of the workforce following the merger of Seguros Catalana Occidente, Plus Ultra Seguros, Seguros Bilbao and GCO Reaseguros, scheduled for the end of 2023.

The consensus reached between GCO's management and the representation of workers takes place after a six-month reporting period, which has been carried out with complete transparency and always ensuring the best conditions and benefits for the workforce.

The voluntary departures plan, focuses exclusively on the structural staff, without any impact on the provision of service, customer service or mediation networks. Up to 488 employees of the traditional GCO business structure in Spain will be able to volunteer, made up of a total of 2,400 workers. The programme will be developed over a year and a half, encouraging the voluntary departure of people closest to retirement.

The insurance group has expressed its appreciation to all the trade unions that represent its workforce for their collaboration throughout this process. The negotiation between both parties during this period has allowed them to reach a consensus that ensures that conditions are beneficial for employees.