Now Santander is cutting people in the UK
It's not just Barclays that is cutting people from its technology teams in the UK. Santander has been trimming people too.
London recruiters say a flurry of Santander people appeared on the market yesterday and the bank confirmed that people have been put at risk of losing their jobs. They are all in the bank's technology and digital solutions teams.
A spokesperson for Santander said 88 people have been put at risk of redundancy and said the bank will support them to find alternative opportunities. In a possible reprieve, 55 new jobs have been created in addition to the bank's current vacancies.
Santander has been reinvigorating its UK technology function this year. Its interim UK CIO, Graham Calder, left in February and was replaced by Eric Cambos, the former Madrid-based head of cloud. In September it hired Adil Ganai from JPMorgan as head of markets architecture for the corporate and investment bank.
Santander's cuts come after it hired heavily from Credit Suisse's disintegrating investment bank, particularly in the US where it was rumoured to have paid generous sign-on bonuses.
In the UK, this is at least the second round of job cuts Santander has made this year. Equity research analysts were invited to move to Spain or lose their jobs in June.
Have a confidential story, tip, or comment you’d like to share? Contact: +44 7537 182250 (SMS, Whatsapp or voicemail). Telegram: @SarahButcher. Click here to fill in our anonymous form, or email firstname.lastname@example.org. Signal also available.
Bear with us if you leave a comment at the bottom of this article: all our comments are moderated by human beings. Sometimes these humans might be asleep, or away from their desks, so it may take a while for your comment to appear. Eventually it will – unless it’s offensive or libelous (in which case it won’t.)