CaixaBank may cut up to 8,000 jobs after Bankia merger
Spanish bank CaixaBank may cut between 7,000 and 8,000 jobs after merging with smaller rival Bankia.
Cinco Dias newspaper reported the development on 25 March, citing unidentified sources.
The bank will start negotiations with labour unions just after Easter.
The bank will start negotiations with labour unions just after Easter, the newspaper report said.
A CaixaBank spokesman, when asked about the newspaper report, said he could not confirm the number of any potential job cuts.
The bank is waiting for the merger to be legally done, in the coming days, to start talking to the unions, he said.
The merger was announced in September last year.
Together, the two will hold assets of more than €650 billion. An all-share merger would give the banks a combined market capitalisation of €16.6 billion.
The merged entity will be Spain’s largest lender by market share in both domestic loans and deposits.
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