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URGENT ¥¥¥ Spain's Caixabank says to cut around 3,000 jobs

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(Globalpost/GlobalPost)

CaixaBank, Spain's biggest bank as measured by assets under management, said on Monday it intends to shed about 3,000 jobs as part of a restructuring of the sector.

Tha Barcelona-based bank's net profit plunged 78.2 percent to 230 million euros ($312 million) in 2012 over the previous year as a result of having to make greater provisions to cover potential real-estate losses.

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http://www.globalpost.com/dispatch/news/afp/130225/urgent-spains-caixabank-says-cut-around-3000-jobs