Read the final statement issued by the Brazilian NCP concluding the specific instance - 23 April 2013

On 6 December 2012, the Brazilian NCP received a request for review by the Bank Workers Union of São Paulo, Osasco and Region alleging that the Brazilian multinational enterprise Itaú Unibanco S.A. had breached the employment and industrial relations provisions of the Guidelines in Brazil. More specifically, the trade unions alleged that the bank had carried out  "mass  layoffs" since early 2011, was routinely firing older employees, and outsourcing many of its activities, which was provoking additional layoffs and putting employees in a precarious situation.

The NCP accepted the specific instance as meriting further consideration and contacted the parties for further information. Both parties responded, the bank refuting the trade union's claims and the trade union providing further evidence to back them. The NCP therefore offered to host a mediation meeting between the parties and the offer was accepted.

The mediation session was held in February 2013, however agreement over the criteria of layoffs could not be reached and the parties did not reach an agreement on any of the points discussed. The mediator therefore proposed concluding the specific instance which was accepted by both parties. In April 2013 the Brazilian NCP concluded the specific instance and issued a final statement with a series of recommendations for the company.