The largest jobs layoff in Spanish Banking has been announced, after 6,452 workers for CaixaBank were informed of the loss of their jobs.
In an agreement with management and union, those affected by the merger of the two banks were informed of the planned level of redundancies yesterday.
The number of losses had dropped by 1,839 following tense negotiations.
The agreement states that people aged over 52 can take early retirement, all redundancies must be voluntary and the rural network of banks must be protected.
CaixaBank and Bankia announced their merger in March this year forming one of the biggest banking groups on Spanish high streets.