Financial technology | Santander job risk highlights future of banking recruitment

Recognisable high-street bank Santander has confirmed that it intends to close at least 140 of its branches, putting 1,270 highstreet jobs at risk.

The mass closure, which represents almost a fifth of the firm’s physical retail locations, was sparked by what the bank called a “key change in how customers are choosing to carry out their banking". Yet, an exodus of workers is not unique to Santander.

Between 2007 and 2009, almost half of all high street bank branches experienced closure. Highstreet mainstay the Co-operative Bank maintained 355 individual branches in 2007.

That number has been slashed to just 68 by January 2019, whilst HSBC’s 1,501 locations have been reduced to 626 – representing a closure rate of 58%