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The Guardian - UK
The Guardian - UK
Business
Kalyeena Makortoff Banking correspondent

Santander UK staff brace for more job losses after 38% drop in full-year profits

Santander Santander UK United Kingdom
Santander sign on a high street bank
The bank is looking at ‘simplification and automation’ of its operations to reduce costs. Photograph: Mike Egerton/PA

Staff at Santander UK are bracing themselves for further job losses, as the bank confirmed it would push ahead with a cost-cutting programme after a 38% drop in full-year profits.

An earnings report by the Madrid-based Banco Santander released on Wednesday showed that the UK was its only region to suffer a slump in profits for 2024, apart from a South American arm comprising Peru, Uruguay and Colombia.

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