Santander has announced the closure of five branches in south London as part of a nationwide plan to shut down 95 high street locations by June 2025. This will put around 750 jobs at risk, impacting over 4% of its UK workforce. The closures include branches in Croydon, Brixton, Eltham, Sidcup, and Surrey Quays, as well as changes to 36 other branches. The bank is also moving towards counter-free operations to adapt to changing customer needs, reducing its branch count to 349 after the closures.
Santander's decision to close over a fifth of its high street branches, including five in south London, signifies a major shift in banking services.
The closures are expected to put 750 jobs at risk across the UK, a response to changing customer needs and increased digital banking.
Santander aims to adapt by transitioning to counter-free branches to meet evolving customer behaviors, indicating a significant change in their operational strategy.
With these closures, Santander will reduce its branch count to 349, reflecting the shift towards online banking and streamlined services for customers.
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