Santander has announced plans to close 140 branches across the UK, putting more than 1,200 jobs at risk. The Spanish-owned bank, which operates one of the largest high street networks in Britain, will reduce its branch count to 614 by the end of the year.
The bank expects to find new roles for about a third of the 1,270 employees affected, with opportunities in nearby branches, call centres, and larger offices in Glasgow and Milton Keynes. However, staff in more remote locations, particularly in Wales, may face redundancy if relocation is not feasible.
The closures reflect a broader shift in banking as customers increasingly use online and mobile services. Santander reported a 23% decline in branch transactions over the past three years, while digital transactions nearly doubled. Susan Allen, head of retail and business banking, said the bank had to make “difficult decisions” regarding less-visited branches.
Linda Rolph, general secretary of the Advance union, described the job losses as “really disappointing, but not a terribly big surprise” given industry trends. She emphasised the union’s focus on securing jobs for affected staff.
Santander joins other major banks in reducing their high street presence. Since 2015, at least 3,101 branches have closed or are scheduled to close across the UK, according to consumer group Which?. Despite the cuts, Santander plans to invest £55m in refurbishing 100 remaining branches over the next two years, with Allen stating that branches still have a “vital role” in its strategy.
