Bank of Spain to close 30 branches

SPAIN - On 8 August unions and management of the Bank of Spain agreed to close 30 of the central bank's branches, and not 31 as previously planned.

The restructuring will be carried out in three phases, between 2002 and 2004, with ten branches being closed during each stage.

Unions say the closures will affect over 300 workers, but most of them will be transferred. There will also be an early retirement plan. The Bank of Spain will have 22 branches once the restructuring has been concluded. All

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