May 29 (Bloomberg) -- Banco Bilbao Vizcaya Argentaria SA aims to cut 5,000 jobs in Spain in two years, Efe newswire reported, citing unidentified people at trade union CGT.

BBVA, as the lender is known, wants to reduce its domestic workforce to 24,000 from 29,000, Efe said. The lender plans to cut jobs through early retirements and by transferring employees to contractors, Efe said.

To contact the reporter on this story: Esteban Duarteeduarterubia@bloomberg.net

Last Updated: May 29, 2008 02:24 EDT