If your role at Santander UK is affected by ongoing restructuring, commercial banking reorganisations, or post-takeover changes, it is important to understand your statutory employment rights under England and Wales law.
What has been announced
- In May 2025, reports stated that Santander UK was freezing pay and salaries while cutting roles as part of a restructuring programme within its commercial banking operations.
- In August 2025, it was reported that Santander UK was cutting more than 2,000 jobs as part of an ongoing restructuring programme across its operations.
- In September 2026, reports indicated that Santander had begun cutting jobs across its UK operations following its takeover of TSB, with specific figures and roles unstated in the report.
About the company
Santander UK is a major provider in the financial services sector.
The organisation operates across personal, business, and commercial banking in the UK and has expanded through corporate transactions including the takeover of TSB.
What happens next
When an employer proposes redundancies, it must carry out a fair consultation process under England and Wales employment law.
Where 100 or more redundancies are proposed at a single establishment within a 90-day period, the law requires collective consultation to last for at least 45 days before dismissals take effect.
Where 20 to 99 redundancies are proposed, the minimum collective consultation period is 30 days.
Consultation should cover options to avoid dismissals, reduce the number of affected staff, and mitigate the impact of the changes.
Employees with at least two years of continuous service are entitled to statutory redundancy pay if made redundant, calculated based on age, weekly pay capped at the statutory limit, and length of service.
Voluntary or compulsory redundancy
Employers often invite applications for voluntary redundancy before implementing compulsory redundancy selections.
A voluntary redundancy package may include an enhanced severance payment, though acceptance is at the employer's discretion.
If compulsory redundancies are required, the employer must establish objective selection pools, fair scoring criteria, and provide opportunities for individual consultation before reaching a final decision.
Your settlement agreement
Santander UK may offer a settlement agreement to resolve redundancy terms and bring employment to an agreed conclusion.
A settlement agreement is a legally binding document under which an employee waives their right to bring employment tribunal claims in exchange for agreed compensation or enhanced redundancy terms.
For the agreement to be valid under UK employment law, the employee must receive advice from an independent qualified legal adviser, such as a solicitor, on the terms and their effect.
Employers generally provide a financial contribution towards the employee's legal fees for taking this independent advice.
Common questions
How many redundancies have been reported at Santander UK?
In August 2025, it was reported that Santander UK was cutting more than 2,000 jobs across its operations. Other reports, including those concerning commercial banking and the post-TSB takeover changes, did not state the specific number of roles affected.
What collective consultation rules apply to large-scale job cuts?
Under England and Wales law, employers proposing 100 or more redundancies at one establishment must consult for at least 45 days before the first dismissal. For 20 to 99 redundancies, the consultation period must be at least 30 days.
Who is eligible for statutory redundancy pay?
Employees who have at least two years of continuous service with their employer at the relevant date are entitled to statutory redundancy pay if their role is made redundant.
Do I have to sign a settlement agreement?
No, signing a settlement agreement is voluntary. However, if you choose not to sign, your departure will proceed under standard redundancy procedures, and you will receive only your statutory or contractual entitlements.
How Deen & Co helps
Deen & Co Solicitors provides independent legal advice to employees facing redundancy or reviewing settlement agreements. Our solicitors review the terms of your agreement, verify that statutory entitlements and notice pay are calculated correctly, advise on the fairness of the compensation offered, and handle discussions with the employer's legal representatives.
Read more about settlement agreement advice or work out your statutory redundancy pay.
If your role is in London, our settlement agreement solicitors London can review the package before you sign.
Sources
- Santander begins UK job cuts after TSB takeover - thebanker.com — thebanker.com (29 September 2026)
- Santander UK cuts over 2,000 Jobs amid restructuring - Retail Banker International — Retail Banker International (1 August 2025)
- Santander UK freezes salaries and cuts jobs in commercial banking restructure - FStech — FStech (21 May 2025)
- Santander UK freezes pay and cuts jobs amid commercial banking shake-up - Proactive Investors — Proactive Investors (19 May 2025)
Last updated 29 September 2026. This page summarises publicly reported information and is general guidance, not legal advice on your own situation.
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