Bankia to Cut 28% of Staff and 39% of Branches

BFA-Bankia said in a regulatory filing that it sees 19 billion-euro of losses in 2012. The Spanish lender will cut 28% of staff and 39% of branches between 2012 and 2015.

Full Show: Bloomberg Daybreak: Americas (02/28)
32:16 - Bloomberg Daybreak: Americas hosted by David Westin, Jonathan Ferro, and Alix Steel. Guests include William Daley, head of U.S. operations at Argentiere Capital and former U.S. Commerce Secretary, Rep. Diane Black, chairman of the House Budget Committee, member of the Ways and Means Committee, and a Republican from Tennessee, Max Baucus, former U.S. Ambassador to China and Democratic Senator from Montana, Federal Communications Commission Chairman Ajit Pai, Rep. John Yarmuth, member of the House Budget Committee and a Democrat from Kentucky, Mohamed El-Erian, chief economic adviser at Allianz and Bloomberg View columnist, and David Bianco, chief investment strategist for the Americas at Deutsche Asset Management. (Source: Bloomberg)
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