Spain’s Caixabank to cut 6,450 jobs, union says By Reuters

MADRID (Reuters) – Spain’s Caixabank has reached an agreement with unions to lay off 6,452 employees, fewer than the initially planned nearly 8,300, a spokesperson for the Comisiones Obreras (CCOO) union said on Thursday.

The agreement to reduce its workforce in Spain by around 14.5% was reached after the bank met some of the union’s demands, such as implementing any job cuts through voluntary redundancies rather than compulsory cuts, the spokesperson said.

Caixabank declined to comment.

In April, Caixabank announced it was initially planning to cut 8,291 jobs and close 1,534 branches, slightly more than a quarter of its offices, to adapt to a customer shift towards online banking.