Santander to offer early retirement to up to 3,000 staff as BBVA rules out AI layoffs

Santander has launched its first formal voluntary early‑retirement programme in more than two decades. The plan could affect between 2,000 and 3,000 employees – roughly 10‑15% of its Spanish workforce – with a minimum age of about 57‑58. Negotiations with unions began in early June, aiming for a consensus by mid‑July and a rollout in September. Participation will be voluntary, the bank retains a veto right, and the scheme will not cost the state.

BBVA, meanwhile, dismissed speculation that artificial‑intelligence adoption will trigger mass redundancies. Bank head Peio Belausteguigoitia told an economic forum that “no está encima de la mesa – ejecutar despidos masivos”. BBVA instead views AI as a productivity boost and has recently hired around 400 new staff, mainly in technology and cybersecurity roles. The bank stressed that it will continue to improve services and product value through AI, while rejecting the idea of large‑scale layoffs.