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Spanish department store El Corte Inglés to slash 3,500 jobs One of Europe’s largest retailers and an indicator of the Spanish economy, El Corte Inglés, has announced that it will slash 3,500 jobs, its largest job cut since its founding in Madrid in 1940. The proposal was submitted last week to the trade unions, who have already stated their readiness to accept job cuts this year amid mass unemployment. Most El Corte Inglés stores closed only for six weeks during the total lockdown in the spring of 2020. Its supermarkets and online sales remained active during that period. Nonetheless, the company, with sales revenues of €15.267 billion, is justifying its latest decision by citing the economic impact of the virus.

Los arcos sevilleReyes marotoMel cortCredit instituteFederation of independent trade workersMinistry of industryEuropean investment bankSocialist partyLos arcosTrade union associationsDepartment storesSocialist party podemosLast decemberIndependent trade workersIndustry minister reyes marotoPodemos controlled credit institute