MADRID, Oct 23 (Reuters) - The Spanish subsidiary of Mexico’s top cement maker Cemex mulls cutting about one-fifth of its workforce in Spain, a trade union official told Reuters on Tuesday.
The official, who had informal talks with Cemex on the issue, said between 350 and 400 jobs could be cut out of a total of 1,740 in the country.
“We can anticipate that the steps will be pretty strong. There will be contracts being ended and about one-third of cement workers will be laid off,” said José Luis López from the Comisiones Obreras (CCOO) trade union.
Cemex sales fell by 42 percent in Spain in the first nine months of the year as the building sector remains stalled in the country following the burst of a decade-long real estate bubble five years ago.
Both Cemex in Mexico and its Spanish subsidiary declined to comment on the matter.