SANTANDER set to close more than 100 branches due to the growing trend of mobile and online banking.
The bank has announced plans that will see 111 branches closed throughout the country as more and more people use mobile and online banking rather than visiting their bank in person. The ongoing Coronavirus pandemic has accelerated the shift to online banking too.
The closures will see around 840 staff affected although Santander has committed to trying to find them alternative positions within the bank. Santander confirmed that the Coronavirus pandemic has increased the ongoing trend which has seen branch visits reduced.
Adam Bishop, head of branches at Santander spoke about the difficult decision to close branches and explained that, “Branch usage by customers has fallen considerably over recent years so we have made the difficult decision to consolidate our presence in areas where we have multiple branches relatively close together.”
There are also plans afoot to move the bank’s headquarters to Milton Keynes from London. The decision will see the floor space rented out the capital reduced. Other office closures are planned before the end of the year too.
Planned office closures will see around 5,000 staff affected but Santander’s UK boss Nathan Bostock explained that, “The pandemic has accelerated the existing trend towards greater flexible working, and our colleagues have told us this has brought significant benefits for many of them.
“At the same time, physical spaces remain very important and our sites around the UK will provide our colleagues with first class facilities fit for the future.”
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