SAO PAULO, Aug 4 (Reuters) - Brazilian bankers' unions saidon Tuesday that management from Banco Bradesco SA andHSBC Holdings promised there would be no mass layoffsdue to the sale of HSBC's Brazilian operation, announced thisweek.
"Both banks promised there would be no mass layoffs andreiterated their openness to dialogue with the labor movement,"said Juvandia Moreira, head of the bankers' union in Sao Paulo,in a joint release with state and federal union leaders.
The success of the acquisition, the largest in Bradesco's74-year history, will depend on how quickly the bank can achieveup to 6 billion Brazilian reais ($1.7 billion) in promised costsavings, analysts say.
($1 = 3.46 Brazilian reais) (Reporting by Alberto Alerigi Jr.; Editing by Dan Grebler)