Caixa Econômica will close more than 100 branches soon

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 guarantees 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 organization also reports that it is strengthening the service team for these channels to ensure quality service.

Furthermore, Caixa stated that no employees will be laid off with the closure of branches. Employees from the 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 Kaisha branches sparked mixed reactions. Bank workers’ unions criticized the measure, arguing that it would harm customer service, especially those who do not have access to digital channels.

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On the other hand, economists defend this measure, pointing out that it is necessary for Caixa to modernize and become more competitive. Closing physical branches will also contribute to reducing Caixa’s costs.

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