Santander to cut more than 800 jobs as 110 branches close

A UK bank has today announced that it is closing more than 100 of its branches as it shifts towards online banking.

Santander, which is based in London, will cut approximately 840 jobs as it closes 110 branches.

The company said that it had made the decision based on lower footfall in its physical banks.

It will also be moving its headquarters from London to Milton Keynes.

Adam Bishop, head of branches at Santander, commented: “Branch usage by customers has fallen considerably over recent years so we have made the difficult decision to consolidate our presence in areas where we have multiple branches relatively close together.

Santander’s UK boss Nathan Bostock said: “The pandemic has accelerated the existing trend towards greater flexible working, and our colleagues have told us this has brought significant benefits for many of them.

“At the same time, physical spaces remain very important and our sites around the UK will provide our colleagues with first-class facilities fit for the future.”