Santander UK says it is to cut 111 branches amid a customer drive towards online banking but it expects to retain a “significant” number of the staff affected.

The lender said its decision – aided by COVID-19 disruption – would be implemented by the end of August and leave it with 452 high street sites.

It follows an industry trend over many years that has seen banks move to cut costs and invest in their digital offerings.

The company charted a 33% fall in branch transactions in the two years before the virus crisis.

It reported a further decline of 50% during 2020.

Santander was unable, at this stage, to confirm how many jobs had been placed at risk under the branch shake-up.

Its plans included a major cutback in its office space requirements, which it said was based on staff feedback related to working from home during the pandemic.

Related posts:

Dolce and Gabbana files multimillion-pound lawsuit after backlash against alleged anti-Asian comments TPG in pole position to snap up £180m McLaren HQ Greensill collapse leaves steel jobs in balance Virgin Active braces for fight over plan to ‘cram down’ furious landlords Ted Baker puts brave face on pandemic sales slump COVID roadmap delay, online car auctions and the rise in restaurant meal kits Average UK house price surges by 10% and nears record high Hundreds of jobs saved as Liberty Steel secures £50m cash injection EasyJet warns of pre-tax loss of up to £1.18bn due to COVID-19 pandemic Have you bought your Christmas pudding yet? Half a million of them have already been sold Facebook’s Meta to ban adverts that target people on ‘sensitive topics’ politics, race and sexual orientation NatWest closing another 32 branches – is yours among them?