BBVA BBVA Bilbao Vizcaya Argentaria SA

By Pietro Lombardi

Banco Bilbao Vizcaya Argentaria SA is seeking to cut 3,798 jobs and close around 530 branches, according to a Spanish union.

Most of the branches to be closed are in the Catalonia region, Jorge Villarino of Comisiones Obreras told The Wall Street Journal.

Earlier this week, Spanish competitor CaixaBank SA said that it is looking to cut 8,291 jobs and close 1,534 branches as part of a restructuring after its merger with Spanish peer Bankia.

Mr. Villarino said negotiations between the bank and the unions are still at an early stage and that the numbers might change.

A spokesman for BBVA declined to comment.

Write to Pietro Lombardi at pietro.lombardi@wsj.com; @pietrolombard10

(END) Dow Jones Newswires

April 22, 2021 07:39 ET (11:39 GMT)

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