According to Bloomberg News, Banco Santander SA of Spain has reduced its workforce in the U.S. by approximately 320 employees as part of a strategy to prioritize digital operations. This downsizing affects around 2.7% of the bank’s U.S. workforce, which totals about 11,800 employees, with a focus on retail operations.
Santander has yet to respond to Reuters’ request for comment on this development. However, the bank stated to Bloomberg News that it is adapting to evolving customer needs by investing in digital capabilities and streamlining processes in its U.S. business.
This action aligns with Santander’s broader shift towards digital operations in recent years. In January, Santander Mexico’s head of digital and innovation, Matias Nunez, announced plans to launch the bank’s digital banking service in Mexico.
