Santander jobs blow as 2,000 staff axed

HIGH street lender Santander UK has axed over 2,000 jobs and warned more roles may need to be cut as part of an ongoing overhaul.Mike Regnier, chief executive of Santander in the UK, said the year-on-year drop in its workforce comes as part of a “simplification and automation” drive as it ramps up the use of technology and as customers switch to online banking.

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He said there “might well be” more job cuts on the way by the end of 2025 as the bank continues its restructure.

But he said it was too early to say what impact the £2.65 billion deal recently announced by its Spanish owner to buy UK rival TSB would have on jobs and branches.

His comments came as the group reported a 5% fall in pretax profits to £764 million for the first six months of 2025, with provisions for liabilities and charges up 74% to £249 million, driven by “higher transformation-related charges’.