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24 Feb 2021 | 09:42

BBVA considers cutting 3,000 jobs from Spanish workforce

(Sharecast News) - Spain's BBVA is considering cutting around 3,000 jobs in the country, reported Expansión on Wednesday. The cuts could affect around 10% of its payroll there, the daily said, citing sources close to the matter.

Bank officials, who have not yet begun to negotiate with the unions on the final scope of the planned staff adjustment, expect to do so in a few weeks.

This could be part of a restructuring plan by the lender which CEO Onur Genc had already warned analysts would be implemented in 2021. Genc was also on record saying that the lender was looking into cost-cutting plans in low growth geographies.
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