Abbey axes another 1000 jobs

Abbey axes another 1000 jobs

Abbey is cutting another 1000 back office jobs across its UK operations, bringing the total number of roles axed since its takeover by Banco Santander to 4000.

Banco Santander originally forecast 3000 job losses when it completed its acquisition of Abbey in November last year.

The UK bank currently employs 25,000 staff. The latest cuts will mainly affect back office employees. So far 2400 staff have received redundancy notices, and 1000 employees have already left the group.

In a statement Santander says the job cuts are part of a cost reduction programme at Abbey, which includes the closure of three customer contact centres. The group says it is also renegotiating contracts with suppliers, ditching non-essential projects and implementing new technology and business platforms.

Financial services union Amicus has reacted furiously to news of the job cuts. Hugh Scullion, regional officer, Amicus, says: "This is an example of worst practice and is typical of the way Banco Santander have managed Abbey since they bought the group.

"They have been continually moving the goal posts at the expense of staff morale and job security which can only have a knock on effect on customer service."

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