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    SAN   ES0113900J37

BANCO SANTANDER, S.A.

(SAN)
  Report
Real-time Estimate Quote. Real-time Estimate Tradegate - 10/27 10:04:07 am
3.269 EUR   -2.61%
08:32aSANTANDER : JP Morgan remains Neutral
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07:38aFixed income Investors Presentation 9M21
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07:38aFixed income Investors Presentation 9M21 (disponible solo en inglés)
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Banco Santander S A : Santander in talks with over 200 Portugal staff hit by job cuts - source

09/20/2021 | 07:31am EDT
FILE PHOTO: A man walks outside Santander Totta headquarters in downtown Lisbon

MADRID (Reuters) - Spain's Santander is in negotiations with about 210 employees in Portugal as part of a wider cost-cutting plan that affects 11% of its workforce there, a source with knowledge of the matter said.

Hit by the fallout from the COVID-19 pandemic, ultra-low interest rates in the euro zone and a shift by customers towards online banking, European lenders have been looking to rein in excess costs.

According to an internal memo from June seen by Reuters, the bank is offering early retirement to employees over 55 years and a compensation package corresponding to time served.

The source said that about 475 employees of a total of 685 affected by the cost-cutting plan had accepted the bank's conditions, adding that the bank was now in negotiations with the rest.

On Monday, Santander, in response to a request for comment, said its aim was to reach an agreement with staff regarding departures in Portugal, where it had 6,049 employees as of the end of June.

In December last year, the banking giant reached an agreement with unions to lay off 3,572 employees in Spain as part of a cost-cutting plan, around 12% of its workforce in its home market.

(Reporting by Jesús Aguado; Editing by Pravin Char)


© Reuters 2021
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Analyst Recommendations on BANCO SANTANDER, S.A.
More recommendations
Financials
Sales 2021 45 483 M 52 851 M 52 851 M
Net income 2021 6 806 M 7 909 M 7 909 M
Net Debt 2021 - - -
P/E ratio 2021 8,51x
Yield 2021 4,49%
Capitalization 57 854 M 67 077 M 67 227 M
Capi. / Sales 2021 1,27x
Capi. / Sales 2022 1,24x
Nbr of Employees 190 751
Free-Float 99,1%
Chart BANCO SANTANDER, S.A.
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Banco Santander, S.A. Technical Analysis Chart | SAN | ES0113900J37 | MarketScreener
Technical analysis trends BANCO SANTANDER, S.A.
Short TermMid-TermLong Term
TrendsBullishNeutralBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 23
Last Close Price 3,36 €
Average target price 3,83 €
Spread / Average Target 14,1%
EPS Revisions
Managers and Directors
José Antonio Álvarez Álvarez Vice Chairman & Chief Executive Officer
José Antonio Garcia Cantera Group Chief Financial Officer
Ana Patricia Botín-Sanz de Sautuola O'Shea Executive Chairman
Dirk Kudwig Marzluf Group Head-Technology & Operations
Marjolein van Hellemondt-Gerdingh Group Chief Compliance Officer
Sector and Competitors