Staff at two major UK banks brace for further redundancies

Staff at Santander and TSB are facing the job cuts are TSB was taken over by the Spanish-owned bank earlier this year.

A source from Santander told The Times that “there is going to be an impact on jobs” due to the £2.65 billion takeover deal.

There are currently around 23,000 people employed by Santander and TSB, however it’s not known how many of these jobs will be affected.

A spokeswoman for Santander told The Times they have not yet “made operational decisions on jobs”.

“However, we will ensure that our colleagues are informed of any changes at the appropriate time.”

READ MORE: Mel C ‘had a little chat’ with Geri Haliwell after she wore white at her wedding

TSB (Image: Getty Images)

TSB has already announced it will make 130 people redundant following the acquisition.

A spokesperson for TSB said: “Whenever we make any changes to our business, the priority is to consult first with impacted colleagues to ensure they’re fully supported.”

The banks have also drawn attention for telling staff they need into the office three days a week from April 2027.

TSB did not previously require staff to work from the office for a set number of days.

There are Santander stores in Abingdon, Bicester, and Witney.

Meanwhile there are TSB branches in Witney and Wantage, the bank also operates a pop-up location in Chipping Norton.

Santander UK has pledged not to shut any more branches across its network and those of the recently-acquired rival TSB before 2028, despite the plans to cut costs further over the rest of the year.