Satander cuts more than 2,000 UK jobs — with more potentially on the way
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SANTANDER has cut more than 2,000 UK jobs as part of major restructuring — with more redundancies potentially on the way.
Boss Mike Regnier said the cuts are part of a push to simplify operations and invest in tech, as more customers move to online banking.
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Santander has cut more than 2,000 UK jobs
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Last October, the bank, which has used TV's Ant and Dec in its ads, had announced its intention to cut more than 1,400 jobs.
It then warned a further 750 were at risk after revealing in March it was closing 95 branches and reducing hours at 50 sites.
Its Spanish parent firm recently struck a £2.65billion deal to acquire rival TSB, raising speculation about further job losses and branch closures.
Mr Regnier said no decisions have been made as the deal is not yet finalised, but it is expected to be complete by early next year.
The bank reported a five per cent drop in pre-tax profits to £764million for the first half of 2025.
Meanwhile, HSBC revealed a 26 per cent drop in pre-tax profits for the same period.
It blamed the fall on trade tensions and a £1.6billion hit from its Chinese investments, as well as selling off its operations in both Canada and Argentina.
HSBC has saved £524million as part of its cost- cutting plan, targeting £1.1billion annually by 2027.
Boss Georges Elhedery said the bank has started reviews of its retail banking businesses in Australia, Indonesia and Sri Lanka.
What Does My Tax Code Mean? A Simple Guide to Your HMRC Letter
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Santander previously used Ant and Dec in its ads
Credit: Santander
HMRC REFUNDS
MORE than 500,000 people have claimed refunds for overpaid tax on pension withdrawals since Pension Freedoms began in 2015, HMRC figures show.
Almost £1.5billion has been returned to those overcharged after being given an 'emergency tax code' when cashing in lump sums.
As retirees must fill out forms to get refunds sooner, critics say the process prioritises HMRC convenience over those affected.
BEER SAMPLES
PUB giant Greene King is offering samples of a new beer in three-inch glasses so punters can try before they buy.
Drinkers can request a taster of the brewer's Hazy Day Fruity IPA to decide if it's for them before paying out for a full pint.
It comes after a poll found that 70 per cent of pubgoers do not ask to taste an beer before paying — with nearly a third of adults under 28 too nervous to ask.
SAINSBURY'S BANK SALE
SAINSBURY'S has taken another major step in winding down its banking arm — selling its car and home insurance business to Allianz and its travel money operations to Fexco Group.
It follows last year's sale of loans, mortgages and savings to Natwest, as Sainsbury's shifts focus to its groceries.
Thousands of insurance customers on auto-renew policies will be transferred to Allianz from November and travel money kiosks will stay open under Fexco.
Pet and life insurance are Sainsbury's only products left but are set to be sold.
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