BancoSantander SA intends to cut an additional 460 jobs at its headquarters in Madrid,Reuters reported April 8, citing the UGT union.

The bank declined to comment. The job cutswould come on top of 1,200 announced as part of a nationwide restructuringplan, Reuters noted.

The union reportedly said early retirements would accountfor a small amount of the 460 job losses, with others to be offered incentivesto depart. The union added that it would push Santander to reduce the number ofpositions to be cut.