New bloodletting hits Spanish banking sector ...Middle East

News by : (Daily Sun) -
MADRID: In Spain where bank tellers were once legion, the sector is again reeling from thousands more job cuts as a 10-year trend gathers pace due to the ongoing pandemic.Two more big banks announced thousands of layoffs last week with 8,300 jobs to be axed at CaixaBank, or one in five of its staff, and 3,800 at its smaller rival BBVA, accounting for 16% of the workforce.The announcements drew an angry response from Spain’s big unions, the UGT and the Workers’ Union (CCOO), who denounced the cuts as “brutal” and “scandalous”.Late last year, Banco Santander, Spain’s largest bank, said it would cut 3,500 jobs while Banco Sabadell moved to lay off 1,800 staff.All of them have made the same argu

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