Santander will close 13% of its offices in Spain – Spain Investing.com

MADRID (Reuters) – Banco Santander (MC close 450 offices in Spain, representing 13 percent of all branches in the country, said one present in the negotiations between the bank and the unions source.

the measure, driven by increased regulatory costs and the digital transformation of the sector, will have an impact not yet quantified on workers in the group.

72 percent of affected offices have between 1 and three employees, the source said.

the office closures are part of an acceleration of the business transformation of the entity, which will adapt this year 350 offices to a new corporate model.

CCOO union said the bank told them the closure of 425 offices throughout 2016, according to a statement on its website.

Disclaimer: Fusion Media would like to remind you That the data Contained in this website is not Necessarily Real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices May not be accurate and May Differ from the actual market price, meaning prices are indicative and not Appropriate for trading purposes. Fusion Media doesn`t bear THEREFORE any Responsibility for any trading losses you incur as a result Might of using esta data.

Fusion Media or anyone Involved With Fusion Media will not accept any liability for loss or as a result of damage reliance on the information Including data, quotes, charts and buy / sell signals Contained Within this website. Please be fully Informed Regarding the Risks Associated With costs and trading the financial markets, it is one of the riskiest investment forms possible.