Sabadell offers to reduce layoffs by 200 to 1,730

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A woman leaves a Sabadell bank office in Barcelona, Spain, September 7, 2021. REUTERS/ Albert Gea

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MADRID, Sept 30 (Reuters) - Spain's Banco Sabadell (SABE.MC) has offered to reduce its proposed job cuts by around 200 employees to 1,730, the Comisiones Obreras (CCOO) union said on Thursday in a statement.

Sabadell declined to comment while CCOO said the bank's latest offer was still not sufficient to be able to cut jobs on a voluntary basis.

The Spanish lender was initially planning to cut 1,936 jobs in Spain, around 13% of staff in its home market, in its second staff reduction in less than a year after recently cutting 1,817 jobs in Spain. read more

Spanish and European banks are attempting to adapt to a customer shift towards online banking and cut costs either by themselves or through tie-ups, as their overall profitability is also hit by rock-bottom interest rates.

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Reporting by Jesús Aguado Editing by Nathan Allen

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