On Air Now

Listen

Listen Live Now » 95.5 FM Wausau, WI

Weather

Current Conditions(Wausau,WI 54403)

More Weather »
63° Feels Like: 63°
Wind: W 8 mph Past 24 hrs - Precip: 0”
Current Radar for Zip

Tonight

Clear 40°

Tomorrow

Mostly Sunny 68°

Wed Night

Partly Cloudy 41°

Alerts

Spain's Caixabank to cut 3,000 jobs

Caixabank's logo is seen on top of the company's headquarters in Barcelona, October 26, 2012. REUTERS/Albert Gea
Caixabank's logo is seen on top of the company's headquarters in Barcelona, October 26, 2012. REUTERS/Albert Gea

MADRID (Reuters) - Spanish lender Caixabank said on Monday it would cut about 3,000 jobs to improve its efficiency after it made several acquisitions in the past three years.

The layoffs at Barcelona-based Caixabank - the commercial banking business of financial services group La Caixa - represent less than 10 percent of the bank's more than 32,600 staff at the end of 2012.

Staffing levels jumped by over 5,000 last year after Caixabank, one of the most active buyers in the consolidation of the Spanish bank system, absorbed Banca Civica, one of its latest acquisitions.

It also bought rescued Banco de Valencia in 2012, though that purchase is yet to be fully integrated.

(Reporting by Robert Hetz, Writing by Sarah White; Editing by Julien Toyer)

Comments