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HomeBreadcrumbCalendarsBreadcrumbNational AffairsBreadcrumbSpain Affairs

Santander and Spain's bank unions hold talks

Wednesday 9 January 2013
Spain

Published: 4 Jan 2013 | By Maria Micudova and 4 others | Last updated: 7 Jan 2013
   
Santander and Spain's bank unions hold talks -
Santander bank
flickr-Karen V Bryan

Official talks begin between Spain's largest bank Santander and the country's bank unions over planned cuts in jobs following the bank's planned merger with its Banesto subsidiary. 


"We'll start to talk about the cuts with Santander next week. The bank hasn't confirmed any numbers, but we think the final figure will be closer to 3,000," announced Jose Miguel Villa, secretary general of the services federation for Spain's second-largest union UGT, on January 4.


The job cuts will reportedly be made through early retirements, incentivized departures and transfers to other units of the group.


The country's banking unions estimate 12,000 job losses this year in the financial sector alone. The eurozone aid Spain received to restore its financial system will mainly go to nationalized lenders including Bankia.

Sources
reuters.com www.reuters.com, 04/01/2013
dailystar.com dailystar.com.lb, 04/01/2013
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Created by Maria MicudovaCreated by Maria Micudova
on Fri 4 Jan 2013
Modified by JorienLast modified by Jorien
on Mon 7 Jan 2013
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Location: Spain
Date: Wednesday 9 January 2013
Duration: 1 day
Planning: confirmed
Ended: 132 days ago

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