Santander to axe 1,900 jobs

BANKING giant Santander, which owns Abbey and Alliance & Leicester said today it would cut 1,900 jobs next year.

The Spanish giant, which has this year also taken on Bradford and Bingley’s savings business, said head office and back office functions would be affected, but no branches would close.

The North West is unlikely to emerge unscathed from the cuts, which Santander said was part of a £180m cost reduction drive over the next three years. Around 2,000 people work in Bootle, while around 300 are based on the corporate banking side of the business in Manchester.

Antonio Horta-Osorio, chief executive of the combined UK business said: “Today’s announcement shows we are on track to fulfil the commitment we made at the time of the Alliance & Leicester acquisition to grow our UK business whilst ensuring we meet our cost-saving targets.”

Santander said it did not plan to close major sites, in Bootle, Leicester and Milton Keynes, but jobs there would be affected where there was duplication of roles. It said though that smaller back office sites may be merged into larger locations.

 

 

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