Spain's nationalised Catalunya Banc to shed over 2,000 staff
MADRID Oct 9 (Reuters) - Nationalised Spanish lender Catalunya Banc is shedding over 2,000 staff after reaching a deal with unions on job cuts as the bank looks to shrink its balance sheet in preparation for its sale.
Catalunya Banc was one of the Spanish lenders, alongside Bankia, that received part of a 41 billion euro ($56 billion) European rescue last year.
As a condition of that aid, the bank must shrink its business and it said in August it would sell its property management arm. Catalunya Banc is likely to come up for auction later this year.
The lender said on Wednesday it would terminate 1,103 contracts, with the rest of the job cuts coming from the sale of offices, the property unit and outsourcing some services, taking the total number of people leaving the company to 2,153.
"The labour agreement will allow the restructuring of the entity to move forward, making it more attractive in the sales process," the Barcelona-based bank said in a stock market notice.
($1 = 0.7355 euros) (Reporting by Clare Kane; Editing by Mark Potter)
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