trending Market Intelligence /marketintelligence/en/news-insights/trending/oomkpbqujhzbzvn0olegca2 content
BY CONTINUING TO USE THIS SITE, YOU ARE AGREEING TO OUR USE OF COOKIES. REVIEW OUR
PRIVACY & COOKIE NOTICE
Log in to other products

Login to Market Intelligence Platform

 /


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *

* Required

In this list

Banco Popular Español responds to report of sweeping layoffs, branch closures

Shareholder Advocates Say New SEC Policy To Prompt Litigation, Less Transparency

Groups Urge Business Roundtable CEOs To Act On New Corporate Purpose Declaration

State of South Korean OTT Video: Subscription

Global Streaming Media Device Sales Forecast To Flatten In 5 Year Outlook


Banco Popular Español responds to report of sweeping layoffs, branch closures

responded torumors of sweeping job cuts and branch closures by saying it is undertaking anoperational analysis that will dictate the actions it needs to take to achieveits objectives.

The statement came after El País reported July 21 that the bankis planning a massive cost-cutting initiative that could include layoffs ofabout 2,500 employees, representing 17% of its workforce, and the closure of about300 offices. The plans would reportedly affect its operations in Spain andPortugal.

Banco Popular said it isnot yet possible to precisely quantify the possible effects of the operationalanalysis, including on its earnings results for full year 2016 and thefollowing years. The bank recently said it was studying to significantly reducethe level of unproductive assets in its balance sheet from 2016 to 2018.

The bank in May launched a€2.5 billionrights to shore up its balancesheet and boost profitability and asset quality.