Staff at Santander and TSB brace for more redundancies following merger

STAFF at two major UK banks are facing job cuts following a merger deal. Redundancies are looming at Santander and TSB, which was taken over by the Spanish-owned bank earlier this year in a £2.65billion deal. Santander took over TSB in a £2.65billion deal earlier this year Credit: Reuters Both banks now employ around 23,000 people Credit: Getty A source from Santander told The Times that “there is going to be an impact on jobs” due to the takeover as there will be “duplication of roles”. There are currently around 23,000 people employed by Santander and TSB, however it’s not known how many of these jobs will be affected. Sign up for the Money newsletter Thank you! TSB has already announced it will make 130 people redundant following the acquisition. Meanwhile, Santander is facing legal action over trying to force its new workforce into the office three days a week. TSB staff has been told they will need to come into the office three days a week from April 2027. The bank did not previously require staff to work from the office for a set number of days. Representatives at the TBU Union are preparing to take their case to the Employment Tribunal over concerns staff won’t be able to change their circumstances due to personal and medical reasons. However, the bank said there would be exceptions put in place for staff who require flexibility for personal and health reasons. Most read in Money A spokeswoman for Santander told The Times: “We have not yet made operational decisions on jobs [as part of the integration]. “However, we will ensure that our colleagues are informed of any changes at the appropriate time.” A spokesman for TSB said: “Whenever we make any changes to our business, the priority is to consult first with impacted colleagues to ensure they’re fully supported.” Comment now