Santander to close 95 branches, putting 750 jobs at risk

Santander has announced plans to restructure its branch network, a move that will see 95 branches close and around 750 employees placed at risk of redundancy.

The bank is consulting with unions and has pledged to provide support to affected staff, including redeployment opportunities, specialist outplacement services, and access to a 24-hour employee assistance helpline.

The decision reflected a significant shift in customer banking habits, with digital transactions increasing by 63% since 2019 and mobile banking app usage rising by 89%.

At the same time, financial transactions completed in branches have declined by 61%.

Santander has responded by enhancing its digital services, investing in a new mobile banking app.

As part of the restructuring, the bank will introduce 18 counter-free branches and 36 reduced-hours locations, alongside its 290 full-service branches and five Work Cafés.

A spokesperson for Santander UK, said: “As customer behaviour changes, we are ensuring that our branches remain fit for the future.

“Our new combination of full-service branches, alongside Work Cafés, counter-free branches and reduced hours branches, aims to provide the right balance between digital banking and face-to-face money management and guidance.”