Santander to axe more than 1,400 jobs – London Business News | Londonlovesbusiness.com

The Spanish banking giant Santander have announced they are to cut more than 1,400 jobs across their UK business.

Santander said the cuts are aimed at reducing costs and the job cuts come as the bank will automate more of their business operations.

The Spanish bank’s chief executive officer Hector Grisi said on Tuesday they will cut 1,425 UK based roles and this will be completed by the end of this year.

Between July and September Santander reported a pre-tax profit of €4.9 billion which is 11% higher compared to the same period last year.

Executive chairwoman Ana Botin said, “In an increasingly volatile geopolitical environment, we are confident that we will maintain this strong momentum throughout the rest of the year, delivering on all our targets, and continuing into 2025.”