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Brazil's Banestes launches voluntarily redundancy program

Banestes SA - Banco do Estado do Espírito Santo has launched a special incentives plan under which eligible employees can voluntarily resign from the company.

The sign-up period for the program, which comes as the bank shifts toward more automation, will run for six months.

Workers who register will receive four monthly salaries and maintain several benefits, including health insurance for up to 12 months and social security contributions for up to 18 months, Banestes said in an Aug. 30 statement.

The lender did not disclose the number of staff members it is targeting in this program.