IT in the firing line as Santander cuts jobs

Spanish bank Santander will cut 1,900 jobs across its three UK businesses in 2009, with reductions in the back office planned as IT is migrated to the bank's Partenon core banking platform.

Spanish bank Santander will cut 1,900 jobs across its three UK businesses in 2009, with reductions in the back office planned as IT is migrated to the bank's Partenon core banking platform.

Back office jobs at Abbey, Alliance & Leicester and Bradford & Bingley will be cut to help the bank meet its cost savings targets.

"To continue growing its UK business and enable further investment in its frontline services and branches, Santander will be making efficiencies through transferring operations onto Santander's proprietary IT platform, Partenon, as well as removing duplicated back office and support functions across the businesses," said the bank in a statement.

Banco Santander has a strategy to grow by acquisition and integrate the IT operations of the firms it buys with its Partenon platform to make cost savings.

The bank completed the migration of Abbey to Partenon in the summer - a key element in its plans to reduce costs at Abbey by £300m. Santander expects to make efficiency savings of £180m partly by moving Alliance & Leicester onto Partenon.

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