Approximately 750 positions are at risk of redundancy at Santander UK following the announcement of an additional 95 branch closures and significant alterations to its operational network.

The bank, headquartered in Boadilla del Monte, Spain, indicated that the branch closures will commence in June. Additionally, it will reduce operating hours at 36 locations and convert 18 branches to a counter-free model, affecting over one-third of its 444-branch network.

Post-restructuring, Santander will operate with 349 branches, which will include 290 full-service locations and five designated work cafes.

The proposed changes could jeopardize around 750 jobs, representing more than 4% of its 18,000-strong workforce in the UK, pending the outcome of consultations with trade unions.

While the majority of the anticipated job losses are linked to the branch closures, approximately 12% are attributed to the reduction in operating hours.

This decision is a response to the growing trend of customers opting for online banking, with a reported 63% increase in digital transactions since 2019, contrasted with a 61% decline in branch transactions during the same period, according to the bank.

A spokesperson for Santander UK stated, "As customer behavior evolves, we are committed to ensuring that our branches are prepared for the future."

He further explained, "Our new model, which combines full-service branches with work cafes, counter-free branches, and reduced hours, seeks to strike an appropriate balance between digital banking and in-person financial management and advice."

The spokesperson acknowledged, "Closing a branch is always a challenging decision, and we invest considerable time in evaluating when and where to make such changes while striving to minimize the impact on our customers."

Starting June 30, most of the reduced-hours branches will operate three days a week—either on Mondays, Wednesdays, and Fridays from 9:30 AM to 3 PM, or on Tuesdays and Thursdays from 9:30 AM to 3 PM, with Saturday hours from 9:30 AM to 12:30 PM.

Eighteen locations will transition to counter-free branches beginning June 16, although the bank emphasized that these sites will still have staff available to provide in-person assistance.