Around 750 jobs are at risk of redundancy at Santander UK as the high street lender announced another 95 branch closures and sweeping changes across its network.
The Spanish-owned banking giant said it was shutting the branches from June, while also cutting hours across 36 sites and switching 18 to be counter-free in moves impacting on more than a third of its 444-strong network.
Santander said it will be left with 349 branches after the overhaul, which will include 290 full-service sites as well as five so-called work cafes.
The changes will put about 750 jobs at risk – more than 4% of its 18,000 UK workforce – if the plans get the go ahead after consultations with unions, the bank said.
A Santander UK spokesman 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 cafes, counter-free branches and reduced hours branches, aims to provide the right balance between digital banking and face-to-face money management and guidance.”
He added: “Closing a branch is always a very difficult decision and we spend a great deal of time assessing where and when we do this and how to minimise the impact it may have on our customers.”
Santander said that from June 30, the majority of the reduced-hours branches will be open just three days a week – either Mondays, Wednesdays and Fridays from 9.30am to 3pm, or Tuesdays and Thursdays from 9.30am to 3pm and Saturdays from 9.30am to 12.30pm.
It will change 18 sites to being self-service counter-free branches from June 16, but stressed these branches will also be manned by staff to offer support.
The group will be recruiting 95 new community bankers in the locations where it is shutting branches and hopes to redeploy some of the affected workers into these jobs.
It comes after the firm shut 111 branches in 2021 – around a fifth of its network at the time – as part of a previous major network review.