Cemex’s Spanish subsidiary is considering cutting 350 and 400 jobs, a trade union official told Reuters on Tuesday.

The official, who had informal talks with Cemex on the issue, said around one-fifth of the jobs could be cut out of a total of 1740 in the country.

"We can anticipate that the steps will be pretty strong. There will be contracts being ended and about one-third of cement workers will be laid off," said José Luis López from the Comisiones Obreras (CCOO) trade union.