LatinNews Daily - 09 September 2025

*Brazilian bank workers' union Sindicato dos Bancários e Financiários de São Paulo, Osasco e Região, has criticised a mass layoff by Itaú Unibanco, the country’s largest private bank. Itaú reportedly sacked over 1,000 employees yesterday without prior notice, on the grounds that they were less productive while working from home. Representing bank workers in Brazil’s main financial hub, the city of São Paulo, and other municipalities in São Paulo state, the union urged Itaú to maintain its commitment to social responsibility and dialogue with its workers and warned that it will “intensify protests against the dismissals”. In a statement published yesterday, the union said it was “unacceptable” for a bank that posts “billions in profits” to carry out mass dismissals under the justification of “productivity”.

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