US EditionSantander UK Cuts More than 2,000 Roles as Statement Released - Liverpool Echo
UNITED KINGDOM, JUL 30 – Santander UK’s job cuts follow a 5% pre-tax profit drop to £764 million and form part of a simplification strategy with a £2.65 billion TSB acquisition planned for 2026.
- Santander UK announced it cut over 2,000 jobs amid a cost-saving overhaul, reporting a 5% fall in pre-tax profits to £764 million in H1 2025.
- The job cuts and branch closures follow earlier reductions of more than 1,400 roles in 2024 and plans to close 95 branches and reduce hours at 50 sites announced in March 2025.
- Santander is advancing its strategy of investing in technology and enhancing service quality, bolstered by its planned acquisition of TSB from Sabadell for £2.65 billion, with the deal anticipated to finalize in the first quarter of 2026.
- Mike Regnier, CEO of Santander UK, stated that acquiring TSB would speed up the bank’s transformation and create significant benefits for customers by merging two well-matched and robust banking institutions.
- Santander is anticipating a key Supreme Court decision expected on Friday related to the car finance commission case, which may influence the £295 million provision it has set aside and affect potential regulatory measures from the FCA.
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24 Articles
Santander axes more than 2,000 UK jobs as high street bank issues announcement
Santander said the job losses were part of a cost-cutting drive, with the bank confirming the reduction in its workforce in its latest half-year results, which were released this morning
·Nottingham, United Kingdom
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Leaning Left5Leaning Right3Center12Last UpdatedBias Distribution60% Center
Bias Distribution
- 60% of the sources are Center
60% Center
L 25%
C 60%
15%
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