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Major layoffs at Spain's Indra

Technology company Indra said on Tuesday it had started negotiations to lay off 1,850 staff in Spain as part of a plan to shore up the loss-making firm's balance sheet.

Indra, with an IT solutions business ranging from defense to healthcare services, is due to present a new strategic plan on Wednesday.

The company had 39,155 employees worldwide at the end of March, of which 21,746 worked in Spain.