Closing of branches and layoffs at Santander bank
The largest Spanish bank, Santander, has decided to close 1,000 branches in Spain.
The consequence of this decision is the necessity to cut jobs, resulting in the dismissal of about 4,000 employees. The bank proposed early retirement to some of the existing employees. Some employees will be able to work for other companies affiliated with Santander.
The bank’s management does not rule out that similar decisions will be made in branches located in other countries.