Banco Santander: 1,400 jobs cut

Banco Santander cut ~1,400 UK roles as part of digitization and AI-driven banking transformation across its European operations. The connection to AI is moderate — while the company is investing in AI capabilities, the layoffs were attributed to broader restructuring alongside technology adoption. Of the 1,400 total positions affected, our methodology estimates that approximately 560 roles (40%) are attributable to AI-driven changes. This is part of a broader pattern in Finance where companies are restructuring operations around AI capabilities while reducing headcount in functions susceptible to automation.