Santander and TSB staff brace for job cuts after £2.65billion takeover

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Santander and TSB staff brace for job cuts after £2.65billion takeover.

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Workers at Santander and TSB are preparing for potential job losses following Santander's £2.65billion takeover of the high street lender.Union representatives at both banks have begun negotiations to establish a fair process for assessing employees working in overlapping roles, according to sources familiar with the discussions.The talks come as staff await confirmation of how many jobs could be affected during the integration of the two businesses.Both banks currently use different performance measures to assess employees, meaning union representatives are now working to agree a single framework for determining how overlapping roles will be evaluated.

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TRENDING Stories Videos Your Say Santander has not confirmed the total number of jobs that could be affected, although uncertainty continues to grow among employees as the merger progresses.The combined banking group now employs around 23,000 members of staff across the two organisations.Banco Santander, the Madrid-based parent...

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