SANTANDER UK revealed today that it has axed more than 2,000 jobs over the last 12 months – and warned more cuts could be on the horizon.

The bank’s chief executive Mike Regnier said the cuts were part of a “simplification and automation” drive before warning there “might well be” more on the way by the end of the year.

The high street lender announced in March that it was closing 95 branches, nearly a fifth of its 444 locations, and reducing hours at 50 sites.

There is speculation about whether the wider Banco Santander group’s £2.65 billion acquisition of TSB from its Spanish competitor Sabadell might further affect jobs and branches. 

Mr Regnier said the group had “made no decisions around branches because we are still waiting to complete the deal,” however.

Once the takeover is finalised, expected in early 2026, the bank will rank as the third largest in the country by personal current account balances.

Santander announced the cuts as it reported a 5 per cent dip in pre-tax profits to £764m in the first six months of 2025.

A spokesperson for Advance union, the largest union operating within Santander, said: “We have been aware of the cost challenges Santander has had for some time and the plans to cut costs, which in turn has led to role reductions and have been clear in our discussions with the bank about our opposition to offshoring UK-based roles specifically where these have occurred. 

“Our focus remains to engage with the bank to scrutinise specific proposals and safeguard as many jobs as possible when they occur.”