MADRID - Spanish police have arrested a man whom they suspect hired a contract killer to murder his boss in a desperate bid to avoid being laid off, newspaper El Pais reported on Tuesday.

The head of audiovisual services at the Barcelona International Convention Center contracted a Colombian man who shot and killed the director of the convention center on Feb 9, according to police.

The director had planned to lay off the arrested man as part of a restructuring project, police said.

In fear of losing his job, the head of services, through his sister, contracted a team of six Colombians who planned and carried out the killing, El Pais reported.

Police have also detained the sister and six Colombians.

The shooting marks one of the most extreme actions by Spaniards who fear losing jobs, homes and businesses during a recession in which unemployment is rising faster than in any other developed country.

Other cases include an indebted Spanish builder who kidnapped his bank manager at gunpoint and the head of a construction firm who threatened to set himself on fire unless debts he was owed were paid.

(Reporting by Andrew Hay; Editing by Matthew Jones)