Banco de Sabadell will fire at least 1,380 workers

This number could reach as high as 1,650.

The bank’s profits dropped by 99.7% in 2020 compared to a year prior, something it attributed to the Covid-19 crisis, the sale of troubled Caja Mediterráneo assets, and its restructuring plan in Spain and the United Kingdom. It also held unsuccessful merger talks with BBVA.

Banco de Sabadell, S.A. is a Spanish multinational financial services company headquartered in Alicante (Valencian Community) and Barcelona, Catalonia (Spain). It is the 4th-largest Spanish banking group. It includes several banks, brands, subsidiaries and associated banks. It is a universal bank and specialises in serving small and medium enterprises (SMEs) and the affluent with a bias towards international trade.

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