[Iran Press TV] Spain's nationalized Bankia says it plans to cut 6,000 jobs by laying off about 28 percent of its staff over the next three years.
The announcement on Wednesday follows a preliminary report on Madrid's overall economy by the Spanish Central Bank suggesting that the country's job-killing recession is expected to persist into the final quarter of 2012.
Bankia's decision to make the massive layoffs came after the European Commission (EC) approved a restructuring plan for the bank. Bankia also said it intends to shut 39 percent of its branches by 2015.
A spokesperson for the EC said the restructuring "will allow them to become viable in the long-term without continued state support."
A multi-volume chronology and reference guide set detailing three years of the Mexican Drug War between 2010 and 2012.
Rantburg.com and borderlandbeat.com correspondent and author Chris Covert presents his first non-fiction work detailing
the drug and gang related violence in Mexico.
Chris gives us Mexican press dispatches of drug and gang war violence
over three years, presented in a multi volume set intended to chronicle the death, violence and mayhem which has
dominated Mexico for six years.
Rantburg was assembled from recycled algorithms in the United States of America. No
trees were destroyed in the production of this weblog. We did hurt some, though. Sorry.
