Banco Santander Cuts 1,100 Jobs Following Takeover of Banco Popular -AFP

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Banco Santander and its union representatives have signed an agreement to cut 1,100 jobs as part of a restructuring plan following Santander's acquisition of peer Banco Popular in June, Agence France-Presse reports.

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--Most of the job reductions will be made through voluntary early retirement, union representatives said. Jobs will be cut from both banks' headquarters and support staff, according to AFP.

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December 12, 2017 12:26 ET (17:26 GMT)