SAO PAULO (Reuters) – Banco Santander Brasil SA <SANB11.SA>, one of Brazil’s top lenders, has denied it plans to lay off 20% of its workforce in Brazil as reported by newspaper Folha de S. Paulo, the bank said in a statement sent to Reuters.
“This information is not true”, the bank said.
The newspaper reported that Santander had decided last week to cut one-fifth of all jobs, citing unnamed sources. It also reported that at least 15 people were fired on Friday, according to local unions.
The firings came more than two months after the Brazilian unit of Spain’s Banco Santander SA <SAN.MC> promised to not fire its roughly 47,000 workers “amid the most critical period” of the coronavirus outbreak.
(Reporting by Gabriela Mello; Editing by Cynthia Osterman and Tom Hogue)