By Marc Bisbal Arias

Banco Santander (SAN.MC) has proposed about 1,500 job cuts to its core services in Spain following its purchase of Banco Popular Espanol SA, the Spanish news agency EFE said.

Reorganization could affect more than 2,000 employees overall, union sources told EFE, but at least 575 of those could be workers who might be transferred to other parts of the company. Other reductions could come via early retirement or voluntary redundancy, according to EFE.

Banco Santander declined to comment.

Write to Marc Bisbal Arias at marc.bisbalarias@dowjones.com

(END) Dow Jones Newswires

November 08, 2017 10:57 ET (15:57 GMT)

Copyright (c) 2017 Dow Jones & Company, Inc.
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