MADRID, Sept 7 (Reuters) - Spain’s Sabadell will reduce by 496 the number of branches in its home market, two sources with knowledge of the negotiations said on Tuesday, as part of its plans to slash costs and boost profitability. Sabadell and Spanish union CCOO declined to comment. A total of 320 branches will be closed, while the rest will open several days a week, one of the sources said. Reporting by Jesús Aguado; editing by Nathan Allen Our Standards: The Thomson Reuters Trust Principles.