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.

(Reporting by Tracy Rucinski and Carlos Ruano, Editing by Sarah White)

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