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RIO DE JANEIRO, BRAZIL - Banco Santander has decided to cut profits from the first half of the year to finance the Redundancy Plan (known as the ERE) agreed with the Spanish unions that will result in the dismissal of 3,223 employees and will cost the institution €600 million (R$2.5 billion).

As a result of this charge and others to the United Kingdom, the group presided over by Ana Botín recorded a net profit of €3.321 billion (R$13.94 billion) between January and June, 14 percent less than a year ago.

These actions for restructuring . . .

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