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Banking unions are calling for a strike at Bankia, the former Madrid savings bank nationalized in May 2012, which received a 23 billion public bailout to stay afloat and is now preparing to cut 6,000 jobs. Two other banks - NCG Banco and Banco de Valencia - are also concerned by major restructurings and social action. Worried about the lack of real negotiations on possible adjustments in these banks, the trade unions are inviting the rest of the banking industry (which is about to lose 20,000 more jobs this year) to join the movement on February 6. This call is rather unusual in a sector traditionally characterized by social peace. However, European funds have set a new deal as new capital entails a drastic program to cut staff and close the branch network. (Ref. 130060)
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130060
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