By Pietro Lombardi 
 

Banco Santander SA won't cut jobs or temporarily lay off employees in Spain during the coronavirus outbreak.

The Spanish banking giant said Monday that it will guarantee its 29,000 jobs in Spain both at its corporate headquarters and branch network.

Santander will also start talks with its providers to help them navigate through the coronavirus storm and avoid layoffs, implementing measures including in some cases, such as for those providers more dependent on the bank, covering the salaries of some of their employees.

The bank donated 4 million euros ($4.3 million) to the Madrid regional authorities to add hospital beds and buy intensive-care equipment, adding that another million was earmarked to buy protective masks that will be given to the Spanish health ministry.

 

Write to Pietro Lombardi at pietro.lombardi@dowjones.com

 

(END) Dow Jones Newswires

March 23, 2020 12:42 ET (16:42 GMT)

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