Santander UK has confirmed plans to eliminate 140 jobs across its branch network, marking another step in the bank's shift towards digital services. The decision comes as part of a wider restructuring effort aimed at adapting to changing customer behaviours.
Why is Santander making these cuts?
The banking giant cites declining footfall in physical branches as customers increasingly opt for digital banking solutions. A Santander spokesperson stated: "We're having to make difficult decisions to ensure our business remains competitive in an evolving financial landscape."
Which locations will be affected?
While Santander hasn't disclosed specific branch closures, the job reductions will be spread across multiple locations in England and Wales. The bank maintains that no single region will bear the brunt of these cuts.
What does this mean for customers?
Santander insists that service quality won't be compromised, with remaining staff being trained to handle a broader range of services. The bank is also investing in its digital platforms to compensate for reduced physical presence.
Employee support measures
Affected staff will be offered redundancy packages and support finding alternative employment. The Unite union has expressed concerns about the pace of job losses in the banking sector.
This move follows similar restructuring by other major UK banks, highlighting the ongoing transformation of traditional banking models in the digital age.
