7 Sep, 2021 @ 18:15
1 min read

Sabadell Bank announces major branch closure plans for Costa Blanca area of Spain

Sabadell Bank says 'no plans' to close any more branches this year in Spain as profits soar
Cordon Press image

SABADELL Bank plans to close 215 branches later this year on top of 105 offices that shut in July.

Reports suggest around a hundred branches will be eliminated in the Costa Blanca and Murcia areas.

A similar reduction is anticipated in the Madrid region plus a handful of closures around Barcelona.

It’s part of a new cost-cutting round with the bank wanting to slash 1,900 jobs.

Sabadell aims to save around €100 million through redundancies and branch closures.

On top of the closure list, 167 branches will operate on a ‘part-time’ basis with nine already downgraded in July.

Around a third of Sabadell’s branch network will be hit by the changes.

If agreement is reached between management and unions over job losses, then some branches could close as soon as late October or early November.

READ MORE FRESH JOB LOSSES PLANNED FOR SABADELL BANK IN SPAIN

WHY BANKS IN SPAIN ARE SHEDDING JOBS AND CLOSING BRANCHES

Alex Trelinski

Alex worked for 30 years for the BBC as a presenter, producer and manager. He covered a variety of areas specialising in sport, news and politics. After moving to the Costa Blanca over a decade ago, he edited a newspaper for 5 years and worked on local radio.

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Pedro Sanchez will hold urgent 'hate crime' meeting after brutal homophobic attack in Spain's Madrid
Previous Story

Pedro Sanchez will hold urgent ‘hate crime’ meeting after brutal homophobic attack in Spain’s Madrid

020921 Lola, Hm Customs Drug Dog
Next Story

Paw Patrol: Meet Gibraltar’s crime-fighting pup Lola

Latest from Business & Finance

Go toTop

More From The Olive Press

4 bedroom Townhouse for sale in Ronda - € 245

4 bedroom Townhouse for sale in Ronda – € 245,000

Townhouse Ronda, Málaga   4 beds   3 baths €
3 bedroom Villa for sale in Badalona - € 429

3 bedroom Villa for sale in Badalona – € 429,000

Villa Badalona, Barcelona   3 beds   2 baths €