BBVA Trims Job-Cut Plans Amid Spanish Government Pushback Jun 09 2021, 1:16 PM June 09 2021, 12:25 PM June 09 2021, 1:16 PM (Bloomberg) -- Banco Bilbao Vizcaya Argentaria SA said it will cut 2,935 jobs in Spain, far fewer than originally planned amid weeks of government criticism against lay-offs in the banking sector. (Bloomberg) -- Banco Bilbao Vizcaya Argentaria SA said it will cut 2,935 jobs in Spain, far fewer than originally planned amid weeks of government criticism against lay-offs in the banking sector. BBVA reached an agreement Tuesday with unions, which is a mandatory legal step in Spain, on the job cuts in a process that will cost about 960 million euros ($1.2 billion) before taxes, the Madrid-based lender said in a statement. The cuts, which include closing 480 branches, will lead to a reduction in the bankâs main regulatory capital ratio of about 28 basis points.