{"id":1428,"date":"2026-08-02T20:38:59","date_gmt":"2026-08-02T20:38:59","guid":{"rendered":"https:\/\/www.vaultinsider.top\/?p=1428"},"modified":"2026-08-02T20:38:59","modified_gmt":"2026-08-02T20:38:59","slug":"santander-and-tsb-staff-braced-for-redundancies-daily-business","status":"publish","type":"post","link":"https:\/\/www.vaultinsider.top\/?p=1428","title":{"rendered":"Santander and TSB staff braced for redundancies \u2013 Daily Business"},"content":{"rendered":"

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\"Santander\"Santander
Santander has been closing branches, including this one in Glasgow, will now cut jobs (pic: DB Media Services)<\/em><\/figcaption><\/figure>\n

Bank unions are warning staff at Santander and TSB to prepare for job cuts following the Spanish group\u2019s \u00a32.65 billion acquisition of the former savings bank.<\/p>\n

Consultation is underway as management plans to remove duplicate roles among the 23,000 combined staff to save \u00a3400 million in costs.<\/p>\n

Sources have told The Times <\/em>that there is some relief at Santander over the merger with TSB, as there had been speculation the Spanish group might pull out of the UK.<\/p>\n

Spokespeople for both banks told the paper that there had been no operational decisions on jobs.<\/p>\n

Speaking to Bloomberg last year, Jos\u00e9 Garc\u00eda Cantera, chief financial officer of Banco Santander, said cost savings would \u201ccome from projects that TSB is currently running that we will not need to do when the two banks merge\u201d.\u00a0<\/p>\n

The scaling down of jobs comes amid broader concerns at the impact of AI on bank jobs and NatWest\u2019s transfer of IY jobs to India. <\/p>\n

The Chancellor is being encouraged to introduce higher taxes on the banks as they report substantial profits.<\/p>\n

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