Santander's Major Acquisition of TSB Puts Hundreds of Jobs and 175 Branches at Risk
A significant shake-up is imminent on the UK high street as Spanish-owned banking giant Santander prepares for a £2.6 billion takeover of rival TSB. This substantial deal, first announced in July, has ignited serious concerns over potential job losses and widespread branch closures across the newly combined banking group.
Widespread Branch Closures and Job Insecurity
The proposed acquisition comes with a stark plan to close one in eight of Santander's existing 349 branches. This reduction will leave the bank with 305 physical sites, but only 244 of these will continue to offer a full suite of services, including in-person mortgage advice and cash and cheque deposit facilities. The move directly threatens the job security of almost 300 branch-based workers.
Furthermore, the future of the TSB brand itself is under consideration, with reports suggesting Santander may decide to scrap it entirely. This would see the TSB name potentially vanish from UK high streets, affecting its network of 175 branches and the 5 million customers it serves through a workforce of 5,000 staff.
Digital Shift Drives Physical Network Overhaul
Santander has attributed these proposed closures to a comprehensive overhaul of its store network, directly linked to a dramatic customer shift towards digital banking services. The bank reports that a staggering 96% of all transactions are now completed online, justifying the rationalisation of its physical footprint.
This announcement follows less than a year after Santander's previous round of cuts in March, which saw the closure of 95 branches and impacted 750 employees, indicating a continued trend towards digital consolidation.
Detailed Timeline of Proposed Santander Branch Closures
The bank has released a detailed schedule for the initial wave of closures affecting its own network:
April 2026 Closures
- Berwick-upon-Tweed, Northumberland (28 April)
- Boston, Lincolnshire (28 April)
- Evesham, Worcestershire (28 April)
- Mold, Clwyd (28 April)
- Ramsgate, Kent (28 April)
- Woking, Surrey (28 April)
- Bangor, County Down (29 April)
- Bridgwater, Somerset (29 April)
- Kirkintilloch, East Dunbartonshire (29 April)
- Melton Mowbray, Leicestershire (29 April)
- Newbury, Berkshire (29 April)
- Scunthorpe, North Lincolnshire (29 April)
- Tonbridge, Kent (29 April)
May 2026 Closures
- Bishop Auckland, County Durham (5 May)
- Gosport, Hampshire (5 May)
- Haverfordwest, Pembrokeshire (5 May)
- Huntingdon, Cambridgeshire (5 May)
- Pontefract, West Yorkshire (5 May)
- Welwyn Garden City, Hertfordshire (5 May)
- Glengormley, County Antrim (6 May)
- Leyland, Lancashire (6 May)
- Mansfield, Nottinghamshire (6 May)
- Merthyr Tydfil, Mid Glamorgan (6 May)
- Northallerton, North Yorkshire (6 May)
- Ringwood, Hampshire (6 May)
- Andover, Hampshire (12 May)
- Bridgend, Mid Glamorgan (12 May)
- Enniskillen, County Fermanagh (12 May)
- Macclesfield, Cheshire (12 May)
- Stratford-upon-Avon, Warwickshire (12 May)
- Cwmbran, Gwent (13 May)
- Golders Green, north London (13 May)
- Heswall, Merseyside (13 May)
- Redditch, Worcestershire (13 May)
- Stranraer, Wigtownshire (13 May)
- Newton Abbot, Devon (19 May)
- Stafford, Staffordshire (19 May)
- Banbridge, County Down (19 May)
- Liskeard, Cornwall (20 May)
- Shirley, West Midlands (20 May)
Further Closures by End of January 2027
- Leighton Buzzard, Bedfordshire
- Ormskirk, Lancashire
- Whitehaven, Cumbria
- Wilmslow, Cheshire
This extensive list highlights the nationwide impact of Santander's strategic shift, affecting communities across England, Scotland, Wales, and Northern Ireland. The consolidation represents a significant moment for the UK's retail banking landscape, as major players continue to prioritise digital infrastructure over traditional high street presence.
