1,900 jobs to go at UK banks, nothing to do with economic crisis

13 December 2008

Santander don't have to slash nearly 2,000 jobs because of the oncoming recession; they're doing it for the merry hell of it! Cruel, but that's business according to the Spanish bank, who are making the cuts that were planned when they acquired the Alliance & Leicester earlier in the year.

23,000 staff are employed by Santander in the UK, at Bradford & Bingley, Alliance & Leicester with the majority at Abbey, so 1,900 positions represents a significant decrease in the workforce. The company has stressed that "there will be minimal impact in branches and call centres" as the focus of the programme will be on back office and support roles. So customer services won't be getting any worse, then.

But wait, there's more. Hundreds more jobs are expected to be affected in the UK, after Bank of America yesterday announced plans to axe 35,000 jobs over the next three years, including staff at Merrill Lynch. Seems you can't win if you work in the financial services; if your bank is a successful and aggressive player in the market, you lose your job. If it's in trouble amidst the economic collapse, you lose your job.

[Telegraph]

TOPICS:   Banking

6 comments

  • andy y.
    Wy not lay 10% of your staff.It saves 10% of your staff budget.The other 90% are scared they are next so work harder to cover for the 10% that went and for the same or less pay.Then 3 months on sack the next 10%. Is a win win for employers
  • andy y.
    er i mean lay off not lay.seriously dudes do not lay 10% of the workforce, you will get an itch
  • Mark H.
    Santander are about to aquire the unsecure cards and loans book of GE Money UK which is most of the retail credit store cards on the UK high street It consists of 2 sites in Leeds,1 site in Newcastle, 1 site in Shannon, totalling about 2.5k employeess. Wonder what will happen when that deal is done>?
  • joe
    i completely don't agree with " andy of yarm" laying off workers is going to kill the morale of their workers, who will be more focused on doing as much work as they can to not getting the sack. A happy worker is alot more productive. making the 90 percent more productive to cover the extra 10 percent is nonsense.
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