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Caixabank plans to lay off 18% of staff, it will be the third largest cuts in Spain and the biggest in the history of the financial sector

Financial institution intends to close 1,534 offices across Spain

This comes barely one month after it confirmed its merger with Bankia, on March 26, which made it Spain’s largest lender.

Before the merger, both companies employed over 50,000 people (35,000 at Caixabank and 15,000 at Bankia).

Caixabank is now the largest bank in Spain with around 20 million …

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