|Bid||0.6494 x 0|
|Ask||0.6498 x 0|
|Day's range||0.6230 - 0.6554|
|52-week range||0.2500 - 0.6840|
|Beta (5Y monthly)||1.67|
|PE ratio (TTM)||N/A|
|Forward dividend & yield||N/A (N/A)|
|Ex-dividend date||01 Apr 2020|
|1y target est||N/A|
Sabadell wants to cut 1,900 jobs in Spain, around 13% of staff in its home market, a union negotiating with the bank said on Thursday, under plans to cut costs and make more money. Such a reduction would be Sabadell's second in less than a year after recently cutting 1,817 jobs in Spain, where it employs a total of 14,648 people. Union Comisiones Obreras (CCOO) said it saw no reason for a new round of layoffs at Sabadell, given "no economic, technical, productive or organisational causes".
Spain's Sabadell on Monday told its employees it will engage in a new round of layoffs in Spain, according to an internal memo from the bank and a statement from the Spanish union Comisiones Obreras. Sabadell declined to comment. A source with knowledge of the negotiations said around 1,800 staff could be affected by the latest restructuring plan, a figure similar to the 1,817 staff cuts made recently.
Spain's Banco Sabadell said on Friday its British unit TSB swung back to a profit in the first quarter after speeding up a cost-cutting plan, however the group's bottom line fell 22% as lending income remained under pressure. The bank reported a net profit of 73 million euros ($88.5 million), above a 56 million euros forecast from analysts polled by Reuters, as it booked fewer provisions for loan losses. Sabadell's net interest income, earnings from loans minus deposit costs, fell 5.8% to 833 million, in line with market forecasts.