Arab Today, arab today nationalised spain bank plans 2453 layoffs
Last Updated : GMT 16:25:50
Arab Today, arab today
Arab Today, arab today

Nationalised Spain bank plans 2,453 layoffs

Arab Today, arab today

Arab Today, arab today Nationalised Spain bank plans 2,453 layoffs

Madrid - AFP

Nationalised Spanish lender Catalunya Banc plans to lay off 2,453 workers, nearly a third of its workforce, under a eurozone bailout deal for Spain\'s banks, a union source said on Tuesday. Last year, the eurozone agreed to finance a rescue of Spain\'s banks, swamped in bad loans since a property bubble imploded in 2008 plunging the country into a double-dip recession. Spain, the eurozone\'s fourth-largest economy, has so far withdrawn 41 billion euros ($55 billion) from the rescue loan to restructure banks including Catalunya Banc. A union representative in the company who asked not to be named told AFP the bank had drawn up a restructuring plan under which 2,453 of its 7,200 workers will be laid off and 450 of its 1,200 branches shut down. \"It is a really brutal move that demonstrates a lack of will to negotiate,\" the source added, warning that workers would protest against the move next month after the summer holidays. The bank\'s management declined to comment on the cuts but said it was negotiating with unions. Catalunya Banc was formed in 2010 from the fusion of three savings banks in the Catalonia region in an earlier phase of the financial sector shake-up prompted by the crisis. It is the second-biggest of the four banks that have been nationalised by the Spanish government to save them from collapse.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today nationalised spain bank plans 2453 layoffs Arab Today, arab today nationalised spain bank plans 2453 layoffs

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today nationalised spain bank plans 2453 layoffs Arab Today, arab today nationalised spain bank plans 2453 layoffs

 



Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Zainab Fadel Oglu designs “Shakerin” mosque

GMT 12:13 2017 Thursday ,11 May

Zainab Fadel Oglu designs “Shakerin” mosque
Arab Today, arab today Seeks to move past rift with Israel

GMT 08:00 2017 Monday ,08 May

Seeks to move past rift with Israel
View News in Arabic - Business: مصارف
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday