Caixa Econômica Federal confirmed this week the closure of 128 physical branches across the country, as part of a plan to restructure its service network. Therefore, the measure, which aims to adapt the institution to the digital age, will be implemented gradually from July 2024.
Caixa notes that the use of digital channels, such as the Caixa app and online banking, has increased significantly in recent years. Therefore, the institution believes that closing physical branches will allow it to focus its resources on digital channels, providing a more efficient and modern service to its customers. See more details!
The impact of closing Caixa branches
However, Caixa ensures that customers of the branches that will be closed will be able to access all banking services through digital channels, such as the Caixa app, online banking and ATMs. In addition, the institution also reports that it is working to strengthen the service team for these channels to ensure quality service.
Furthermore, Caixa stated that no employees will be fired with the closure of the branches. Staff from units that will be closed will be reassigned to other agencies in the region or to work in digital channels.
As such, affected agency employees will have the opportunity to move to nearby units or may choose to remain in person if they are unable to adapt to the digital setting. However, digital agencies will no longer have specific positions such as cashier, treasurer, pledge appraiser, and company manager, indicating a significant relocation.
Reactions to the branch closure announcement
Thus, the announcement of the closure of Caixa branches has drawn mixed reactions. Banking unions have criticized the move, arguing that it will harm customer service, especially for those who do not have access to digital channels.
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On the other hand, economic experts defend this measure, pointing out that it is necessary for Kaisha to modernize and become more competitive. The closure of physical branches will also contribute to reducing Caixa's costs.
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Charlotte Whitmore is a contributor at Mediarunsearch.co.uk, covering a broad range of topics including news, politics, business, technology, sport, entertainment, and lifestyle. She focuses on delivering clear, balanced reporting and practical information that helps readers stay informed about current events and emerging developments. Her work highlights stories that matter to everyday audiences, with an emphasis on accuracy, relevance, and accessible journalism that keeps readers connected to the issues shaping the UK and beyond.