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Santander UK Cuts Over 2,000 Jobs as Half-Year Profits Dip

Santander UK has reduced operating expenses by 2% through branch closures and automation ahead of a Supreme Court ruling on its £295 million mis-selling provision

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Overview

  • Santander UK has cut more than 2,000 roles this year as part of its ongoing simplification and automation drive.
  • Half-year results show a 5% drop in pre-tax profit to £764 million and a 5% rise in net interest income to £2.22 billion.
  • Santander UK has closed 95 branches, converted multiple outlets to counter-free formats and introduced community bankers at reduced-hours sites.
  • The bank set aside a £295 million provision for a motor finance commission mis-selling scandal and is awaiting a Supreme Court judgment that could require adjustments.
  • Banco Santander’s £2.65 billion takeover of TSB is expected to complete in early 2026 pending shareholder and regulatory approval, with further redundancies possible.