Santander delays planned technology-unit job cuts in Spain until 2027

Santander plans job cuts at two Spanish technology subsidiaries that together employ more than 6,000 people.

The bank told unions last month it intended to make cuts at Santander Digital Services and Gravity, but has not said how many jobs would be affected.

The bank and unions have paused negotiations during October and November, amid a planned general strike on 11 November and elections on 29 November.

They have agreed to hold their first meeting on 1 December, with the aim of reaching an agreement.

The delay is expected to push the cuts’ implementation into 2027, so Santander cannot count the related costs and savings in this year’s accounts.

The planned cuts are part of the bank’s effort to reduce costs, and follow the merger of the two technology companies last summer.

Santander’s existing early-retirement plan, agreed with unions, remains in place for three years.