Spain’s CaixaBank Set to Cut 7,000 Jobs After Bankia Takeover
A pedestrian walks by a CaixaBank SA bank branch in Barcelona.
Photographer: Angel Garcia/BloombergThis article is for subscribers only.
Spanish lender CaixaBank SA is seeking to cut about 7,000 jobs after taking over of smaller rival Bankia SA, according to people with knowledge of the matter.
The bank’s management and workers’ representatives agreed at a meeting on Tuesday to form a negotiation committee on the cuts and will meet next on April 20, a spokesman for the lender said, declining to give details on the number of jobs to be lost.