I just saw the news that Santander is planning another major round of layoffs, and my heart sank a bit. This time, they’re reportedly cutting nearly 3,572 jobs and closing over a thousand branches. It feels like news of bank layoffs and branch closures has been non-stop these past few years, especially since the CaixaBank and Bankia merger. The entire industry’s in-person services seem to be continually shrinking.
This move by Santander Bank is primarily driven by their accelerated digital transformation. The bank’s rationale is that with more customers using online banking and mobile apps, there’s less foot traffic in physical branches, making so many offices unnecessary. While that makes sense, the impact on regular customers like us is quite direct. This is especially true for elderly family members who are used to in-person counter services. Suddenly not being able to find their familiar branch or manager will surely be very inconvenient. My father-in-law, for example, only trusts the counter; teaching him to use the app is next to impossible.
ERE Plan Details
Negotiations between the unions and the bank are still ongoing, but according to leaks regarding the compensation at Santander Bank, the areas hit hardest by layoffs and closures will be concentrated in certain regions. Although a specific list of closing branches hasn’t been released, based on past experience, branches in small towns and densely-branched urban areas are most at risk. I’ve compiled the current information for your reference:
Estimated Layoffs by Autonomous Community
| Region | Estimated Layoffs |
|---|
| Madrid | 700 |
| Andalusia | 550 |
| Catalonia | 400 |
| Valencia | 350 |
| Total | 3572 |
Source: Preliminary estimates from various unions; final plan pending. (Official contact: Santander Bank phone number)
Seeing these numbers is truly alarming. This means more than one in every 10 employees will have to leave. The bank has promised to prioritize voluntary departures and early retirement, so hopefully, they can minimize compulsory layoffs. For us customers, the main concerns are: Will my usual branch close? Will my account manager be replaced? Will I have to travel farther for complex transactions in the future? These are all very real questions.
To be honest, digitalization is an unstoppable trend. Bank apps are becoming increasingly powerful—you can handle transfers, check statements, and even apply for loans on your phone, which is incredibly convenient. However, banks can’t take a one-size-fits-all approach and completely ignore those who aren’t comfortable with digital products. I hope that while Santander closes branches, it will maintain some key service centers or enhance its phone and online human support, ensuring that service quality doesn’t get ‘downsized’ along with the staff. What does everyone think? Is your local Santander branch okay?
