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UNI Americas and the Bank Workers’ Union of São Paulo, Osasco and Region have criticized Itaú’s recent decision to dismiss nearly one thousand employees. The layoffs, which took place on Monday, 8 September, were reportedly due to a drop in productivity. However, union representatives argue that the move was disproportionate and lacked justification, as it was implemented without prior consultation with unions or the affected workers.
Neiva Ribeiro, president of the Bank Workers’ Union of São Paulo, Osasco and Region, stated: “It is not reasonable to use monitoring and surveillance mechanisms to justify mass layoffs. Clear limits must be established for digital surveillance, as such practices can create excessive pressure, affect mental health and foster an oppressive work environment. If there is a performance evaluation mechanism in telework, why were these employees not warned before being dismissed?”
The union has pointed out that Itaú’s actions appear inconsistent with its own Code of Ethics and Conduct, which emphasizes respect, trust and continuous learning. They also noted that bypassing negotiation contradicts recommendations from the International Labour Organization (ILO), which supports social dialogue when dealing with employment issues.
