Santander UK staff brace for more job losses after 38% drop in full-year profits
by Kalyeena Makortoff Banking correspondent from World news | The Guardian on (#6V2GK)
Cost efficiencies' programme planned for UK arm rocked by car loan commission scandal last November
Staff at Santander UK are bracing themselves for further job losses, as the bank confirmed it would push ahead with a cost-cutting programme after a 38% drop in full-year profits.
An earnings report by the Madrid-based Banco Santander released on Wednesday showed that the UK was its only region to suffer a slump in profits for 2024, apart from a South American arm comprising Peru, Uruguay and Colombia.
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