The British subsidiary of the Spanish bank Santander announced in the media that 750 of its employees could be laid off due to the planned closure of 95 branches in Great Britain.
About 5% of the bank's employees will face the risk of job loss due to this business model shift. The decision to cut staff is related to the trend of increasing online banking instead of branch visits. Customers are increasingly using digital services instead of traditional trips to the bank.
"This is a difficult decision, but it is necessary to adapt to the changing needs of clients," noted a representative of Santander. "We understand that this is a challenging time for our employees, and we will do everything possible to support them during this transition."
Santander plans to close branches in populated areas where it has only a small presence. This change will allow the bank to save resources and improve financial indicators.
