Santander is planning to cut 87 jobs at one of its biggest Glasgow branches - and move them to India. 

Stunned staff at the St Vincent Street bank were told of the plan by bosses after being summoned to a meeting which was reportedly held via Zoom.

The move is part of a proposal to cut costs within the chain’s highly-profitable mortgage department. 

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An insider told the Glasgow Times: “Mortgages are Santander’s most profitable asset. This is just a money saving exercise to save fat cats money by using cheap labour. 

“It’s an appalling way to treat loyal staff who worked hard throughout the pandemic to keep money rolling into the bank’s accounts. 

“This is a real slap in the face for everyone and most people I know are outraged at the plans.

“Santander’s moto of ‘Simple, Personal, Fair’ simply doesn’t apply to its hardworking employees who are now facing job losses in the middle of the worst cost-of-living crisis for 70 years.”

Staff at Santander House were made aware of the proposed cuts earlier this month. Following an initial briefing, those affected have been invited to attend an individual one-to-one discussion with their line manager. 

Bosses say 45 new roles will be created along with a range of redeployment opportunities within the financial crime team based in Glasgow.

A Santander spokeswoman said: “We are proposing some changes which will affect a number of people in our mortgage operations, homes division, to create a simpler structure allowing us to serve our customers better. 

“We are consulting with our recognised trade unions on the proposals. All those impacted have the opportunity to consider a range of alternative roles within the bank, including a number of new jobs that are being created as part of these proposals.”

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The banking giant is also cutting its branches opening hours from July 18 in what it says is a response to long-term trends in customer behaviour. 

The number of customers using its branches fell by a third over the two years before the coronavirus pandemic, and a further 50% in 2020 and 12% in 2021.

The shake-up includes banks on Byers Road, Argyll Street, Newton Mearns and Rutherglen. Opening hours will move from 9.30am to 4pm on Saturdays to operating a half-day service, closing at 12.30pm.