Banco Santander Slashes Jobs, JPMorgan Warned by Treasury: Financial Business Review

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Banco Santander (NYSE:SAN): Current price $8.31

Spain’s biggest bank is slashing¬†3,000 jobs subsequent to its planned merger with its Banesto¬†subsidiary, said inside and union sources to Cinco Dias on Friday. The bank completely absorbed its 110 year-old Banesto brand in December, shutting 700 branches in order to reduce longer-term expenses.¬†Official discussions with unions in regards to the cuts will commence on January 9th, according to Cinco Dias.

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