Banco Santander to Reduce Layoffs -Expansion

Banco Santander SA (SAN.MC) agreed Thursday to reduce its initial figures for staff layoffs by 13% in Spain amid adjustments after it acquired Banco Popular Espana SA, Spanish newspaper Expansion reports citing unions sources.

--The number of employees that could be affected by the measures has been cut to 1,384 from an initial figure of 1,585 and the bank also adjusted their figures on staff taking early retirement, Expansion says.

--The unions will continue to demand further reductions in employee cutbacks, according to Expansion.

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(END) Dow Jones Newswires

November 23, 2017 12:16 ET (17:16 GMT)