BBVA plans to lay off more than 3000 workers, 16% of the bank’s staff in Spain

BBVA plans to lay off more than 3000 workers, 16% of the bank’s staff in Spain.  Bank intends to close 530 offices, a few days after Caixabank the largest bank in Spain, revealed its intention to lay off 8,291 workers generally (754 people in Catalonia).

The financial institution intends to close 530 offices, of which 204 will be in Catalonia – the territory worst affected by the reduction.

Trade unions gave details of the closures after meeting company officials on Thursday.

Around 3,000 employees in offices are expected to be sacked, 21% of the total, and 800 more of the central services.

Banco Bilbao Vizcaya Argentaria, S.A., better known by its initialism BBVA, is a Spanish multinational financial services company based in Madrid and Bilbao (Basque Community), Spain. It is one of the largest financial institutions in the world, and is present mainly in Spain, Portugal, Mexico, South America, Turkey, Italy and Romania.

CaixaBank, S.A., is a Spanish multinational financial services company. CaixaBank is based in Valencia, with operative offices in Madrid and Barcelona. It is Spain’s third-largest lender by market value, after Banco Santander and BBVA. CaixaBank has 5,397 branches to serve its 15.8 million customers, and has the most extensive branch network in the Spanish market. It is listed in the Bolsa de Madrid and is part of the IBEX 35.

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