Santander to cut 1900 UK jobs

Spanish banking giant Banco Santander is cutting 1,900 jobs across all three of its UK brands.

It is reported that the jobs will be shed across Abbey, Alliance & Leicester and Bradford & Bingley next year.

The job losses are said to amount to 8% of Santander’s British workforce.

Antonio Horta-Osario, chief executive of the combined UK business, says: “Today’s announcement shows we are on track to fulfil the commitment we made at the time of the A&L acquisition to grow our UK business whilst ensuring we meet our cost-saving targets.”