Banco Santander, Spain's biggest banking group, is planning to make 1,500 staff redundant in various head office and area office functions.
It follows its takeover of struggling Banco Popular earlier this year and the move was widely expected by analysts. In all, 2,160 workers will be affected, but some 600 IT workers from Banco Popular will be offered the chance to move over to Santander's offices.
Branch staff will not be affected. In a statement to unions, Santander said that it is looking to keep the best staff from both groups with the changes.