MADRID, Sept 30 (Reuters) – Spain’s Banco Sabadell has offered to reduce its proposed job cuts by around 200 employees to 1,730, the Comisiones Obreras (CCOO) union said on Thursday in a statement.

Sabadell declined to comment while CCOO said the bank’s latest offer was still not sufficient to be able to cut jobs on a voluntary basis.

The Spanish lender was initially planning to cut 1,936 jobs in Spain, around 13% of staff in its home market, in its second staff reduction in less than a year after recently cutting 1,817 jobs in Spain.

Spanish and European banks are attempting to adapt to a customer shift towards online banking and cut costs either by themselves or through tie-ups, as their overall profitability is also hit by rock-bottom interest rates. (Reporting by Jesus Aguado Editing by Nathan Allen)

Read More