BBVA Said to Weigh Thousands of Job Cuts to Reduce Costs
- Bank said to mull cutting 2,000 jobs or more, including in CIB
- Santander, Banco Popular are also eliminating positions
BBVA may eliminate 2,000 positions or more.
Photographer: Angel Navarrete/BloombergThis article is for subscribers only.
Banco Bilbao Vizcaya Argentaria SA, Spain’s second-biggest bank, is weighing a fresh round of job cuts across the company to lower costs, three people with knowledge of the matter said.
The bank may eliminate 2,000 positions or more, said the people, asking not to be identified because the matter is private. The cuts would mostly affect branches and the lender’s central services unit, as well as the investment banking business, though a final decision hasn’t been made, two of the people said.