Banco Santander lays off more than 300 employees in the United States

Banco Santander has reduced its workforce by 2.7 %, which is equivalent to the dismissal of more than 300 people in the United States

Banco Santander applied a reduction in its workforce of 2.7 %, equivalent to some 320 employees who now join the ranks of the unemployed in the United States.

The side of Spanish origin decided to reduce jobs specifically in the retail banking operations sector. According to a source close to the bank, the move is part of a new focus on digital operations.

According to Bloomberg, the bank indicated: “We are evolving our business in the US, investing in digital capabilities and simplified processes to adapt to changing customer needs.”

Banco Santander is in a restructuring process aimed at a greater presence in the global market. This implies the standardization of processes so that “all territories can take advantage of the entity’s best practices, which is why digital operations gain weight. Even more so in markets where its position is not a leader, as is the case in the United States, for example.”

The strategy in the country is aimed at signing renowned bankers, a strategy that in the last year has amounted to around 200 hires.


Source: cincodias

(Reference image source: @merca2_es, X)

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