# Itaú will pay R$130 Million Over Home Office Layoffs

*Settlement includes additional pay and telework guarantee after court mediation in São Paulo.*

- Published: 2025-10-08
- Section: Insights
- URL: https://brazilstockguide.com/insights/itau-union-130-million-court-settlement-home-office-layoffs-2025/

![Itaú Minas payroll contract](https://i0.wp.com/brazilstockguide.com/wp-content/uploads/2025/10/Itau.png?fit=1024%2C683&ssl=1)

**Brazil Stock Guide – Itaú Unibanco Holding SA (B3: ITUB4)** and the **São Paulo Bank Workers’ Union** **formally entered into a court-mediated settlement** valued at **R$130 million (US$23 million)** to resolve a dispute over the **mass layoff of more than 1,000 home office and hybrid employees** carried out on September 8. The agreement, reached through mediation before the **2nd Regional Labor Court (TRT-2)**, will be submitted for ratification by employees in an assembly on **Thursday, October 9**.

The settlement grants **up to ten additional monthly salaries**, a **fixed R$9,000 payment**, a **13th food allowance**, and **maintains preferential mortgage rates** for Itaú employees with housing loans. The bank also pledged **not to discontinue its telework model**, one of the union’s main demands following the mass dismissals.

Union representatives said the layoffs were **unilateral and carried out without collective bargaining**, relying on **opaque monitoring metrics** that led to dismissals of high-performing workers. The dispute sparked **public protests, partial strikes, and direct negotiations**, eventually leading both sides to accept judicial mediation.

“After a month of mobilization, we secured a proposal that we consider positive for the dismissed workers, even as we reaffirm our indignation over how Itaú handled the process,” said **Neiva Ribeiro**, president of the São Paulo Bank Workers’ Union and coordinator of the **National Bank Workers’ Committee**.

**Valeska Pincovai**, director of the **Itaú Workers’ Organization Committee (COE Itaú)**, said the bank agreed to **review cases involving pregnant employees and those on medical leave**, assessing each individually. “We wanted reinstatement, which wasn’t achieved, but we leave with recognition of what happened and tangible reparations,” she said.

The settlement applies to employees with **less than two years at the bank** — entitled to **four monthly salaries**, plus the fixed payment and benefits — and to those with **two or more years of service**, who will receive **six salaries plus half a salary per year worked**, capped at ten. Participation will be **individual**, with **union assistance**, and must occur within **six months** of ratification.

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Source: Brazil Stock Guide, https://brazilstockguide.com/insights/itau-union-130-million-court-settlement-home-office-layoffs-2025/