A Santander store is to close in Milton Keynes as the bank reinvests in opening new branches elsewhere.
It will move its operations to existing branches in Midsummer Place and Grafton Gate East, which they say can “cope” with the volume of customer transactions.
A Santander spokesperson said the bank expects to be able to transfer colleagues affected by these changes into branches in the same town, or into suitable alternative roles in its Retail Division.
The spokesman said: “Reducing the inefficiencies that are present in our branch network, where we have multiple branches in some towns because of our acquisitions in 2008, will allow Santander to reinvest in opening new branches in new locations.
“Our new and refurbished branches will ensure we meet our goals of providing an excellent level of service, and increasing and deepening our relationships with our retail customers, through revolutionary products such as the 1|2|3 Current Account.”
By the end of 2015, around 60 per cent of the network, including all of the largest and busiest branches; will have been refurbished.
“We are absolutely committed to maintaining employment, by retaining colleagues through redeployment by offering suitable alternative roles in our Retail Division.”