Santander Starts Round of UK Job Cuts as Part of Savings Drive
(Bloomberg) — Banco Santander SA has kicked off a round of job cuts at its UK unit to save costs, according to people familiar with the matter.
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The redundancy program was started last week and it’s focused on the Spanish lender’s regional headquarters, the people said, asking not to be identified because the matter is private. They didn’t provide any numbers.
A representative for Santander wasn’t immediately able to comment.
Earlier on Friday, ING Groep NV said it hired Santander’s head of corporate and investment banking in the UK, Alexandra MacMahon, as country manager for its wholesale business.
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