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UK – Santander bank to close 140 branches, putting over 1,200 jobs at risk (The Guardian)

24 January 2019

Spanish-owned Santander Bank plans to close nearly one in five of its bank branches in the UK, putting more than 1,200 jobs at risk, reports The Guardian. Santander plans to shut down 140 branches, leaving 614 after the closures, which will be completed by the end of the year. The bank said it expected to find new jobs for about a third of the 1,270 employees whose jobs are at risk. “The way our customers are choosing to bank with us has changed dramatically in recent years, with more and more customers using online and mobile channels,” Susan Allen, Santander’s head of retail and business banking, said. “As a result, we have had to take some very difficult decisions over our less-visited branches and those where we have other branches in close proximity.” The bank added that branch transaction numbers have fallen by 23% over the past three years, while transactions via digital channels almost doubled over the same period. As well as relocation to other nearby branches, some staff may be able to find roles at call centres and larger central offices such as those in Glasgow and Milton Keynes. Linda Rolph, general secretary of Advance, a trade union representing Santander UK employees, described the job losses as “really disappointing, but not a terribly big surprise given the way the industry is going”. Rolph added, “Our main aim is to try and get as many jobs as we can to people.” Other competitors among the British high street banks have also announced thousands of job cuts and branch closures in recent years.