The majority of unions and the management of Unicaja Banco have reached an agreement over job cuts at the bank and, as a result, the staff strikes scheduled for today (Friday, 3 December) have been called off at the last minute.
The significant progress follows weeks of disagreements between the parties, mass protests and strikes by staff. The preliminary agreement that must now be ratified before 7 December.
The late-night talks took place following the bank’s merger with Liberbank, that makes the Malaga firm the fifth largest entity in the banking sector in Spain, and Unicaja’s proposal to close around 400 offices and make widespread job cuts.
"They were talking all night," explained a source close to the negotiations, although the full details of the agreement have not yet been disclosed.