Reuters

Spanish bank Sabadell to cut up to 1,605 jobs, union says

Spanish bank Sabadell has reached an agreement with unions to lay off up to 1,605 employees in its home market, fewer than the initially planned more than 1,900, the leading union Comisiones Obreras (CCOO) said on Friday. The agreement to reduce the workforce in Spain was reached after the bank met some of the union’s demands, such as setting a lower number of layoffs, capped at 1,380, a union spokesperson said. “If 1,380 employees take redundancy leave the bank would accept it,” the union spokesperson said, adding that if more employees decided to leave cuts would be capped at 1,605 employees.

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